VAT & Chill: Zen Practices for Stress-Free Reclaims

Repeat after us “I am capable of achieving whatever I put my mind to.” And yes, that includes efficient and maximized VAT reclaim. But that doesn’t mean it should come at the cost of your peace of mind. So, to help you attract more savings and let go of VAT-related anxiety, we’re looking at zen practices for stress-free recovery. But first, let’s look at why VAT often kickstarts feelings of restlessness and panic. 

Why is managing VAT so stressful?

At the very least, it’s reassuring to acknowledge that VAT reclaim can be a stressful and daunting process for most businesses. So if you’re feeling overwhelmed, it’s important to know that it’s not a reflection of your ability. The VAT landscape is prone to change and requirements niche down to differentiating on a jurisdictional level. This includes eligibility requirements, deadlines, compliance requirements, invoicing instructions, and much more. Did someone say panic? Thankfully, it doesn’t have to be as stressful as it sounds (at least not with us by your side). But if the seasonal stresses start to make camp, here are some ways to evict them once and for all. 

• Create organizational zen 

Anxiety often stems from feeling disorganized, and that includes any unnecessary clutter or distractions within the VAT recovery process. Create some organizational zen by freeing yourself from any redundant manual tasks that may take up more space than required. An example of this can be implementing an expense management tool that allows you to organize your VAT-related documents and receipts systematically, making it easier to access and process them when needed.

• Practice mindful communication

Nothing adds stress quite as much as a lack of efficient communication. This is especially true when departments work in silos, and VAT potential is left in the dark. To relieve some of the stress (and maximize savings), it’s important to prioritize clear and transparent communication across the organization regarding everyone’s role in the VAT reclaim process. This includes corresponding with tax authorities or financial advisors regarding VAT. Be clear, concise, and attentive in your exchanges to avoid misunderstandings and streamline the process, making sure all claims are backed by evidence. 

• Continuous learning

There’s a lot of worry that stems from the fear of the unknown. And sometimes with VAT processes, you don’t even know what you don't know. That’s why it’s important to approach VAT management with a learning mindset. Stay updated on VAT regulations and amendments as much as you can, specifically around how they may affect business operations. Regularly educating yourself about changes can empower you with confidence and a deeper understanding of the process.

Get by with a little help from your friends

Can we let you in on the biggest secret of all? You don’t have to settle for VAT stressors at all. Reclaim your VAT, time, and freedom with VAT IT. In a complex world of indirect tax, simplify yours by leaning on our decades of cross-border expertise and industry-leading technology. We do VAT so you don’t have to. 

https://vatit.com/