AEBALL, corporate association in L’Hospitalet and El Baix Llobregat, and UPMBALL, Metallurgy Patronal Union in L’Hospitalet and El Baix Llobregat, have made an agreement with DevoluIVA to simplify VAT reclaim for corporate expenses from SMEs and self-employed in L’Hospitalet and the Llobregat zone.
Self-employed, SMEs and large companies have usually issues to reclaim VAT for professional charges. Getting an invoice for small charges or losing receipts are two of the main issues when it comes to VAT reclaim. According to a study made by DevoluIVA, 30% of the corporate expenses receipts can’t be used to reclaim VAT fees because the paper is so damaged that it can’t be read. Because of this fact, a company can actually have a loss between €60,000 up to €500,000 and a self-employed could lose €3,000 on average.
That is why DevoluIVA has designed a system to digitalise receipts and issue electronic invoices for those charges. Users only need to take a picture of the receipts via the app, and they will automatically receive an electronic invoice. If users buy in a shop that is not using the DevoluIVA system, the receipt will be digitalised and certified by the AEAT, the Spanish Tax Agency. All digital receipts and electronic invoices will be stored in DevoluIVA for 10 years. This way, users can avoid losing or damaging receipts and it is easier to look them up if there is a business inspection.
DevoluIVA’s new features
Recently, DevoluIVA has released a new feature where self-employed, SMEs and large companies will also be able to digitalise invoices for representation expenses via the app. This way, employers will receive these receipts via the same channel and format.
With this agreement, DevoluIVA and AEBALL/UPMBALL simplify VAT reclaim for the associated companies with exclusive advantages.
“In AEBALL/UPMBALL, we trust on this service. We think that digitalisation and automation of charge processing contribute to an increase of a company’s productivity. This way, employees can focused on valued activities for the company”, explains Vice President and General Director of the Patronal, M. Rosa Fiol.
On the other hand, DevoluIVA’s CEO, Àngel Garrido, says that “DevoluIVA is a service that not only digitalises and automates processes for SMEs and self-employed, but also let employers reclaim money that they weren’t aware they were losing”.