Voice from customers ~ Furukawa Electric Industry Co., Ltd.

• As companies expand overseas, opportunities arise to conduct business between nations, including among group companies and outside group companies. On the other hand, there are many cases where it is unknown to deal with taxation and tax reduction on these international businesses. Since its establishment, Opti Co., Ltd. has provided advice on various international taxes to listed companies and public organisations and implements effective cost reduction methods. This time, we are pleased to cooperate with our client company Furukawa Electric Industry Co., Ltd. and introduce VAT refund service provided by our company.

A value added tax of more than 100 million yen in Germany occurred, a VAT refund which is 100% certain to reduce cost measures was selected

Speaker: Mr. Hirona Furukawa Electric (Client)

Interviewer: Opti Fumiaki (Opti)

Opti: Congratulations on this VAT refund. Would you mind let me know your case again ?

Client: Yes. In this case, there are parts that we purchased in Germany before, and a tax of VAT of 100 million yen was imposed on this part. So I thought that I managed to reduce this cost somehow and I contacted you.

Opti: Thank you very much. Even though we are doing it, we are doing the same case in the past, but since the amount was large, I was especially careful with correspondence. Also, thank you for preparing various documents and thank you for your trouble.

By the way, why did you choose the VAT refund service which of our company's tax reduction service?

Client: First of all, it is a because we did not need to cost anything on our side, thanks to the "reward for compensation fee". Since it is an effort we have never done before, I did not know whether it could be truly reduced. On that point, if it is a reward for a fee, we only have to pay the fee from the tax cost reduced, so we did not have any takeovers on our side. This point was very easy to do within the company.

Opti: In our company, the cost reduction of indirect taxes, mainly in Europe, has been held since our establishment, and we have the upmost confidence in this field. In the case of a cost reduction project, we do not receive fixed payment, and we will pay compensation from the customer's tax cost that we actually reduced. For this reason, we are forced to take serious measures at our company.

Client: In addition, it was also a big deciding factor that it was an incredibly cheap commission compared with other companies. We are grateful to Opti for flexibly dealing with the rates we require.

Various solutions for international indirect tax prepared

Opti: Thank you very much. Even with our company, we corresponded with the commission until the limit margin. Actually I'd like to put it on the magazine (laugh)

Client: Thank you very much. And the biggest reason is your company's extensive experience in this field. It is a monetary amount of 100 million yen, and if the problem arises it is totally overturned. For your company, I have written tax articles at government agencies such as JETRO (Japan External Trade Organization), so I have contacted you that there is plenty of knowledge in this field. I am extremely satisfied that the cost reduction was actually made. Currently we are asking that you also ask your company to reduce the tax cost in the country of the former communal sphere from our separate department.

Opti: Thank you very much. That's right. We are now able to respond to tax reductions in the countries of the former communal sphere in addition to the German case. Since this case is a tax cost reduction few years ago, we are dealing with a very complicated tax scheme.

We have a prospective target and we will respond with a reward for success as well, so I hope to succeed.

Opti: By the way, I will ask you what you can not afford, but did you receive awards or other internships regarding the tax cost reduction of 100 million yen this time?

Client: There is nothing special about it. At least I will think that my boss will take me to a drink. (Lol)

Opti: Thank you very much for your cooperation and thank you for your valuable time. Humbly thanking you in the future.

Editing postscript

Regarding the VAT refund a few years ago in the former communist area described above, we refunded tens of millions of yen. I think that VAT refund is a mountain of treasure in companies where plant, construction, and large-scale procurement of materials occur like Furukawa Electric Co., Ltd. Although we can not compare simply with travel expenses VAT refund difficulty, we are most proud of the VAT refund in such a huge and complicated case.

We would like you to consider it. Also, this time I contacted Hamada who cooperated with "customer's voice" at a later date, "I showed my previous article to my boss, I took you for a drink!" I received a message. (Lol)

Mr. Hamada, Mr. Furukawa Electric Industry Co., Ltd., really thank you very much.

Customer Information

Company name: Furukawa Electric Industry Co., Ltd.

Business description: Manufacture and sale of optical fibre, electric wire, wire harness, etc.

Number of Employees: 47,045 (Consolidated)

Address: 2-2-3 Marunouchi, Chiyoda-ku, Tokyo 100-8322

Website: http://www.furukawa.co.jp

Used service: VAT refund (vendor-in-voice)

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