EBV Finance is one of the Top 2020 Lithuanian companies

EBV Finance is one of the Top 2020 Lithuanian companies for being strong, transparent, reliable, respectful to the business environment, and for creating additional economic value to the country.

Each year Rekvizitai.lt, the Lithuanian online business portal, nominates and rewards businesses that meet the strict criteria. This year we are among only 7% of Lithuanian enterprises that meet the requirements.


French Excise duty rate coefficient for Q3, 2020

French Tax Authorities have announced a new coefficient for the Excise duty rate for the 3rd Quarter of 2020.

The new applicable coefficient is 0,1571 Eur/l.

The previous Excise duty rate coefficient was 0,1572 Eur/l. The latter was applicable for the 1st and 2nd Quarters of 2020.


EBV Finance appointed the new Head of Sales Department

At the beginning of this year, Lithuanian-registered company EBV Finance that specializes in tax refund for transportation companies joined the world-wide known Edenred Group and has now appointed the new Head of Sales. Tomas Miliunas is officially joining the company as the Head of Sales on the 1st of October.

 

Tomas Miliūnas - Head of Sales Department at EBV Finance

For more than twelve years Tomas worked at Circle K Lithuania, a company that runs a chain of local fuel stations. For the last seven years Tomas was leading the sales department focusing on business customers and retail; he was also part of the executive team at the highest level.

After joining the EBV Finance' management team, Tomas will ensure the expansion of sales. He will also seek that the services the company provides are even more innovative and create extra value for customers.

According to Tomas, having multiple years of experience as a sales strategist working for the business that belongs to an international group, will allow him to grow the sales in the European region and to work towards achieving the Edenreds' group goals.

EBV Finance is the leading company in the Baltic region that has extensive experience in VAT and excise duty refund from the EU countries as well as Switzerland, Norway and Liechtenstein, irrespective of the supplier you are working with. The professional team consists of experts of the European tax laws, ensuring exceptional quality and speed in the provision of services.


EBV Finance is strengthening its position in the market – new operations center is being established in Lithuania

EBV Finance – a Lithuanian-registered tax refund services providing company has joined the world-wide known Edenred group and is now expanding and establishing a new operations center in Lithuania.  

Members of the international family

At the beginning of this year, the Edenred group acquired the controlling shares of EBV Finance. The latter has also obtained the control of Edenred‘s subsidiary companies working in the same field. 

„Joining the world-wide known leader in payment solutions and innovations is a strategically important next step allowing us to expand in Europe, therefore improving services to our customers in Lithuania and other European countries“ – says Loreta Grekauskienė, Chief Operating Officer, EBV Finance. 

After finalizing the agreement with Edenred, it was decided to transfer the operations center of subsidiary companies to Lithuania. This move will allow the company to create additional workplaces. 

According to the COO of EBV Finance, the company is seeking to become a leader in the field – the biggest independent business offering fast VAT and excise duty refund services in Europe. Joining Edenred is opening the possibilities to take advantage of a broad customer base in the region and have access to the strategic international partners. 

„We are expanding our network in Europe centralizing our main operations center in Lithuania. This year we will be creating 40 new workplaces in our Vilnius office. The expansion is planned to continue in 2021“ – added L. Grekauskienė.

Successfully running for seven years already, EBV Finance is providing fast and standard VAT refunds as well as excise duty for European transport service companies that buy fuel and have other expenses abroad. The company refunds VAT from 31 European countries, and excise duty on diesel fuel from 7 European countries.

Loreta Grekauskienė, Chief Operating Officer, EBV Finance

Noticed the lithuanian innovativeness 

With this transaction, the Group is significantly strengthening its position in the segment and expanding its range of value-added services for international transportation companies in Europe.

„We were observing the development of EBV Finance in the market and saw its exceptional growth. The Lithuanian innovativeness and experience in the field of technologies are matching the Group‘s strategy of strengthening its offering of value-added services in the Fleet & Mobility Solutions segment“ - says Antoine Dumurgier, Chief Operating Officer, Fleet & Mobility Solutions at Edenred.

According to him, the transaction will enable Edenred to leverage not only scale effects and operating synergies, but also EBV Finance’s expertise and positioning in a buoyant market. 

Caring about clients and employees during the pandemic 

According to L. Grekauskienė, it is planned to instill new and innovative IT solutions, automise processes and offer new services, which will allow our clients to get their money back faster and more conveniently. 

“During the quarantine, our most popular service – fast VAT refunds - has been a great help for transportation companies allowing them to have working capital and to ensure an untroubled work during the unprecedented times,” said Chief Operations Officer, EBV Finance. 

Celebrating its ten years, Edenred Group has reduced its dividends by 20% and established a “More Than Ever” fund of €15 million dedicated to mitigate the consequences of the Covid-19 epidemic on its ecosystem. 

The fund was established to support employees in countries with little or no healthcare coverage. The rest of the funding is set out to support customers, who have been severely impacted by the economic consequences of the COVID-19. Edenred also supported logistic companies who carried on with their work during the quarantine period by providing sanitary equipment, protective masks, and disinfectants.

 

EBV Finance is the leading company in the Baltic region, that has an extensive experience in VAT and excise duty refunds from the EU countries as well as Switzerland, Norway and Liechtenstein. The professional team consists of experts of the European tax laws, therefore ensuring exceptional quality and speed in the provision of services. 

Edenred is a leading services and payments platform and the everyday companion for people at work, connecting 50 million employees and 2 million partner merchants in 46 countries via more than 850,000 corporate clients. Edenred offers specific-purpose payment solutions for food (meal vouchers), fleet and mobility (fuel cards, commuter vouchers), incentives (gift vouchers, employee engagement platforms) and corporate payments (virtual cards). In 2019, thanks to its global technology assets, the Group managed €31 billion in business volume. Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC Next 20, FTSE4Good, DJSI Europe and MSCI Europe. For more information: www.edenred.com


VAT rate change in Ireland

On August 1st Ireland's Government announced a plan to temporarily cut the VAT rate from 23 to 21%.
The measure was applied from the 1st of September, 2020 and will be applicable till 28th of February, 2021.

Decrease of a VAT rate in Ireland is a part of economic support measures for businesses to cope with struggles caused by the Covid-19 pandemic.


VAT rate change in Germany

On June 12th, 2020, German government, as part of COVID-19 economic stimulus package, made a decision to reduce the VAT rate. In order to strengthen domestic consumption in Germany, VAT rate was reduced from 19% to 16% for a limited period of time. The change will come into effect from July 1st, 2020 and will be applicable until December 31st, 2020.


France: Quarterly reimbursement of TICPE (excise duty)

In order to support the road transporters of goods and passengers, the French Government has decided that the partial reimbursement of the Domestic Consumption Tax on Energy Products (TICPE) will be granted on a quarterly rather than the semi-annual basis for consumption carried out since January 1, 2020.

Reimbursement requests for the first quarter of 2020 (consumption from January 1 to March 31) can now be submitted. Requests for the second quarter of 2020 (consumption from April 1 to June 30) can be submitted from July 1, 2020.

The French authorities emphasize that this day forward all reimbursement requests are to be submitted on a quarterly basis. The detailed table for the year 2020 with the start and end dates for the submission of the requests for the reimbursement is listed here below.  

Period Start of the request for the reimbursement End of the request for the reimbursement
1st quarter of 2020 Open  31st December 2022
2nd quarter of 2020 1st July 2020 31st December 2022
3rd quarter of 2020 1st October 2020 31st December 2022
4th quarter of 2020 2nd January 2021 31st December 2023