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

 


New website

We are excited to introduce you to our new website.
We hope you like the new look and the improved navigation that will allow you to find information you need more quickly and easily!


Self Service portal

Our system provides you the most relevant information: real-time access to VAT and excise duty declared amounts, invoices, tax rates and other useful information about our services to you.

If you have any questions, please contact us via email: selfservice@ebvfinance.com. We will be glad to help you!

Go to Self Service


Belgian diesel refund

In order to speed up treatment of Excise duty on Diesel refund applications, Belgian Tax Authorities demand to provide translated documents into one of the 3 official languages: French, German or Dutch.

If you require any further information, feel free to contact us via email:
excise@ebvfinance.com