IMG Konsultant AS and Hansa Liising Eesti AS are offering value added tax factoring to support the companies' cash flow problems through purchasing their claims for overpaid amounts of value added tax. Such optimisation of the use of current assets helps speed up the rate of turnover and increase liquidity.
The factoring advance constitutes 80 - 90% of the refundable amount of value added tax. The advance is remitted to the company’s bank account within one banking day after acceptance of the value added tax return. Commission is deducted from the advance. The Tax Board refunds the overpaid amount of value added tax to the bank account of the factor. The factor deducts interest and the factoring advance from the overpaid amount of value added tax received from the Tax Board and remits the remainder of the sum to the company’s bank account.
Contact: Madis Valk, tel +372 646 2050, e-mail: madis.valk@img.ee