RECLAIM VAT

Global VAT Recovery

With Yokoy, companies can unlock their savings potential in the area of VAT refunds – based on efficient and automated processes

HOW IT WORKS

Automatic readout of value added tax

Yokoy’s AI model detects and validates VAT on all invoices and receipts.

Yokoy automatically prepares the accounting journal for correct accounting and VAT reclaim.

Your company will no longer lose forgotten VAT reclaims.

VAT DEFINITION

What is VAT and why can you reclaim it?

VAT taxes domestic consumption. Since it would be too complicated to settle each consumption of each citizen directly with the state, the tax is collected from companies. They, in turn, pass on the VAT to consumers by including the tax in the price or on the invoice. 
The VAT can be reclaimed if it concerns services that are used for the own company (such as expenses or supplier invoices). This is the so-called input tax. VAT can also be reclaimed on services purchased abroad.

VAT REFUND WITH YOKOY

How does Yokoy help?

Yokoy’s AI model automatically detects VAT on receipts and invoices, validates them and prepares the accounting journal for correct accounting and VAT reclaim. Yokoy sends all relevant VAT data to our customers’ ERP system to ensure recovery. For all VAT that cannot be reclaimed directly for legal reasons (e.g. no tax registration in the respective countries), Yokoy offers standard integrations together with partners. Through these, the data is sent to third-party providers who handle the reclaim for the end customer.

VAT refund with Taxback international or Cashback

Want to try it out yourself?

YOKOY IN ACTION
Yokoy automates your spend management

Save money, time and nerves with Yokoy! All spending processes are automated with artificial intelligence.

YOKOY INTEGRATES DIRECTLY WITH YOUR FAVORITE FINANCIAL AND HR SYSTEMS

$20 billion of foreign VAT goes unclaimed each year

“Reclaiming VAT is also worthwhile for startups. For example, Yokoy was able to reclaim over CHF 10,000 in 2020! For many of our customers, Yokoy makes it possible to completely amortize the costs of the software already through the VAT reclaim.”

Thomas Inhelder

CFO

Yokoy

Yokoy is growing rapidly, but with 30+ employees, we are still one of the SMEs. Nevertheless, we are able to save significant amounts by reclaiming VAT. We use our tool for our spend management as a matter of course, and thanks to Yokoy with 30 employees, we were able to reclaim 10,000 CHF of input tax in 2020.

For companies with 100 or more employees, the savings potential is correspondingly higher and often at least 50’000 to 100’000 CHF per year in refunds can be calculated in. These are savings that are very quickly lost in whole or in part with manual accounting systems.

Frequently asked questions

THE ONE-STOP SOLUTION FOR CORPORATE SPENDING

Discover all Yokoy products

Expense Management
Yokoy Expense
Supplier Invoices
Yokoy Invoice
Company Cards
Yokoy Pay

These features are included in all Yokoy products

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Customizable & integrable

Customize workflows, policies and more, while integrating all your favorite tools.

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Active fraud prevention

The Yokoy artificial intelligence module actively recognizes fraud patterns and flags them as such.

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Audit-proof

Modern audit protocols ensure compliance with local auditing standards in Switzerland, Austria, Germany, the US and many more.

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On the go in real time

Submit expenses directly on your mobile phone or web app – anywhere, anytime – even offline.

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Automated VAT-read out

Yokoy recognizes VAT, validates it and automatically prepares the booking journal for the correct booking and VAT reclaim.

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Trips & Auto lump sum calculation

Lump-sums are automatically calculated based on your internal guidelines.

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Auto-reconciliation of card transactions

Yokoy directly feeds in your card transactions, matches them with the receipts and does the reconciliation work for you.

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Artificial Intelligence scanning

Automated spend reporting and real-time policy checking, thanks to cutting-edge AI technology.

Auto-approval

All expenses are reviewed and validated by the Yokoy AI engine, so that you only need to look at special cases manually.

Assistant or deputy

Manage expenses on behalf of your manager(s) or delegate tasks and assign deputies on behalf of you.

Security

Data encryption and protection are key aspects of Yokoy, including GDPR compliance, permission-based access policies and Single Sign On (SSO) using the SAML/OAuth standard.

Data Analytics

Create spending reports and analysis dashboards to have the overview you always wanted.

Interested?