U Turn Tax RefundRecover money on your International Expenses

PRESENTED BY MARTIN MUSKER & ANA MARIA CUSIAC

CFO’s FORUM BUCHAREST

21ST FEBRUARY 2013

U Turn Tax Refund

U Turn Tax Refund (UTTR) is a Global Corporation Headquartered in Dubai’s financial hub – Dubai International Financial Center.

UTTR specialises in VAT recovery, compliance and consultancy services with over 25 offices across Europe, USA, India, Middle East and the Asia Pacific.

U Turn Tax Refund - Global Expertise

U Turn Tax Refund has a resource of talent and expertise in every location.

51% from Big 4

42% are Qualified accountants

35% are Qualified legal advisors

Profile of UTTR’s Executives

U Turn Tax Refund – Local Expertise

Ana Maria Cusiac joined the executive team of U Turn Tax Refund Romania in 2013.

Ana Maria was one of the most experienced and senior consultants at one of the Big 4, providing advice to multinational and local corporate firms for over five years. Her work covers both domestic and international tax issues, and extends to direct and indirect taxation.

Country Manager - Romania

U Turn Tax Refund’s Core Business Areas:

• End-to-end foreign VAT (and similar sales taxes like: GST or Consumption Tax) recovery from 45 countries

• Ensuring full domestic VAT compliance - covering registrations for the VAT purposes, preparation of the domestic VAT and INTRASTAT / EXTRASTAT returns as well as EC Sales and Acquisition Listings in multiple countries.

• VAT/TAX recovery in complicated areas such as Aviation VAT, Import VAT and Customs Duties, Mineral Oil Tax and Roaming Charges

Turnkey Solutions

Core Business Areas:→ Worldwide Foreign Tax Recovery→ Domestic Tax Compliance and

Accounting Services→ Fiscal Representation→ Legal-Tax Services→ International Tax Services→ Customs and Excise Duties→ Transfer Pricing & Tax Effective Supply

Chain Management

→ E-invoicing

→ Taxation of HR Performance and Award schemes

→ Grants & Incentives Advisory (GIA)

→ Global F&A Centre of Excellence Services

→ Tax Seminars and Training Programs

→ Payment Protection Insurance Services

→ Personal Income Taxation / PAYE

→ Advisory for Partially Exempt Businesses (Financial Institutions, Government agencies, Sports Organizations, Educational Institutions, etc.)

→ Advisory on Film Industry Tax Incentive Scheme

→ Tax Reviews / Audits

→ Tax Technology Services

→ Mergers and Acquisitions Taxation

→ Advisory on Tax Free Shopping

Turnkey offering

VAT Recoverable Expenses:TRAVEL AND ENTERTAINMENT (T&E) EXPENSES

Conference, Trade Fair and Exhibition

Training Courses and Seminars

Business Entertainment

Hotels and Other Forms of

Accommodation

Restaurant Meals (Food and

Beverages)

Car Rental and Maintenance (incl. repairs and spare

parts cost)

Petrol / Diesel fuel Taxis Public Transport (buses, rail, etc.)

VAT Recoverable ExpensesFOREIGN VENDOR PAYMENT EXPENSES:

Roaming Charges

(including the U.S.)

Import VAT & Customs Duties

Professional Fees/Services

Exhibition / Trade Show /

Conference Expenses

Broadcasting, TV & Movie

Production

Advertising, Marketing and

Promotions

Information Office Expenses

Intercompany Charges

Tooling / Equipment/

Warranty cost

Data & Collocation Services

Aviation VAT Subscription Fees

U Turn Tax Refund VAT Recovery Table

Invoice Retrieval Services

Full audit service

Customer Service Executive does a comprehensive onsite audit

Self retrieval service

Client extracts invoices & data and provides it to UTTR

Reissue and Supplier Refund Service

→ UTTR obtains original & compliant

invoices reissued from suppliers /

service providers

→ UTTR identifies invoices with incorrectly

charged VAT and ensures that the VAT is

refunded to Client

VAT Appeals Service

→ Country specific tax jurisdiction expertise

→ Review the VAT refund claim denial grounds;

→ Planning and management the appeal;

→ Preparing a punctual and well legally augmented appeal;

→ Following the appeal with the relevant tax authorities.

A punctual and legally augmented appeal can make the difference in obtaining a favourable appeal decision.

If you are not happy with a VAT refund decision, you may have the right to appeal

Premium Service

→Refund within 5 days*

→Provides instant cash-flow

* Terms & conditions apply

“Only company in the World”

VAT Compliance

→ Registrations for the domestic VAT purposes;

→ Preparation of the domestic VAT & INTRASTAT/EXTRASTAT returns;

→ EC Sales and Acquisition Listings.

VAT Consultancy

→ International tax services;

→ Legal-tax service;

→ Mergers & Acquisition (M&A) taxation;

→ Advisory for partially exempt businesses;

→ Tax optimisation and supply chain management.

Global F&A Centre of Excellence

→ End-to-end comprehensive outsourcing solution;

→ VAT Compliance Centre (VCC) for high quality country local VAT compliance and reporting;

→ Optimisation of GL, AP, AR, FP&A and T&E Management processes;

→ Data coherence for the migration process;

→ SOx Internal Control Systems;

→ Bank account & ledgers reconciliation.

Optimising Tax Incentives for Innovation

→ Tax deductions of 50% of the eligible expenses for R&D activities

→ Most fixed and variable costs related to R&D activities are covered under the incentives scheme

→ Possibility to use the accelerated-depreciation method for devices and equipment used in R&D activity.

Reporting

Applications available on both desktop and mobile applications

Benefits

→ Multiple locations around the world;

→ Turnkey solutions;

→ Dedicated customer services executives;

→ 24/7 multilingual support;

→ Maximising your VAT reclaim in the shortest possible lead time;

→ Competitive pricing with the highest quality service.

Our Locations

UTTR Offices

Coming Soon

Our Clients

™

Our Partners

Questions

THANK YOU FOR YOUR TIME