Way2VAT Ltd (ASX:W2V), an automated value-added tax (VAT) refund and return solutions company, has entered the Spanish market after recently acquired subsidiary DevoluIVA inked a new deal with Spanish enterprise client, Grupo Constant.
The agreement involves the use of DevoluIVA’s travel and expenses app and VAT claim and recovery solution for Grupo’s Spanish operations.
Grupo Constant is a human resources management company servicing Spain, Portugal and the Czech Republic with outsourcing, temporary employment, general services and training solutions.
The agreement will give nearly 5,000 employees access to W2V’s travel and expenses app and VAT claim and recovery solution, with an added possibility to expand further into other markets.
Signing reinforces acquisition strategy
“This latest enterprise signing shows the strategic rationale of our recent acquisition of DevoluIVA in Spain – which has differently structured taxation around VAT, expense and accounts payable systems to most of Europe,” Way2VAT CEO and founder Amos Simantov said.
“Through our combined expertise and offer we have signed our first major Spanish enterprise client that will show other locally-headquartered major companies what is possible with the capability of the DevoluIVA T&E system and automated VAT recovery system.”
Grupo will integrate the DevoluIVA automated travel and expenses management system and VAT claim and return solution into its own operations, based out of Barcelona with more than 30 offices throughout Spain.