Sponsor Generates Significant Savings By Proactively Managing Value Added Tax (VAT) In Global Trials
Significant opportunity exists to reduce cost and improve cash flow by properly managing this line item within your Clinical Trial. Surprisingly, we have found most sponsors/CROs are not doing any upfront planning or ongoing management of the Value Added Tax (VAT) costs relating to their clinical trials. VAT rates can range from 10% to 30% of the visit fees paid to the sites and add a significant cost to the trial. With some proactive planning, these costs can often be avoided, eliminating the time consuming process of recovering VAT, or correcting charges made in error by the site due to confusion surrounding local VAT rules and regulations. Consider VAT taxes as you develop your contracting structure by country and implement the appropriate controls to validate site invoices throughout the life of the trial.
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