VAT Refund and Traveler Expense Management Tools Introduced in Egypt by Excel Travel - HRG Egypt

Excel Travel - HRG Egypt held an event that mainly introduced two tools, the VAT Refund tool where you can get the money you pay on VAT back. And the Traveler Expense Management Tool, where you can follow up what your company's expenses are and how to reduce them.

Cairo, Egypt, July 04, 2007 --( National and multi national companies from Egypt were invited to a seminar held at the Grand Hyatt in Cairo on July 4th. Excel Travel – HRG Egypt introduced two new tools, which will be of major benefits for companies in general, the Travel Expense Management software which regulates expenses for companies, and the VAT refund (Cashback), which mainly works on reclaiming back your VAT.

Mr. George Fawzi, president of Excel Travel – HRG Egypt, gave a brief introduction about the company and Excel Travel representing the Hogg Robinson Group – HRG in Egypt and talking about the MICE department. Mrs. Amani Fouad the vice president of Excel Travel – HRG Egypt provided background information on HRG which was established in 1845. HRG is a leading travel management company with a worldwide business travel network. Gross sales today are about $12 billion, established in 96 key markets worldwide and about 12,500 employees. The structure of HRG-Egypt as she said was divided into three areas, first the traveler tools, second the process management, and third the strategic management.

Mr. David, guest speaker of HRG described in detail the use and benefits of the Traveler Expense Management system. The Travel Expense Management is a tool that mainly focuses on limiting the company’s expenses by using a program that tracks your money on hand and the money you can afford spending and the expenses you pay. It is extremely useful as it gives the company a brief understanding on where the company’s money is spent, and focus on reducing unnecessary expenses. The software provides online information, offers online booking, and has a profile management. Process management includes quality control and integration & knowledge. The strategic management includes reporting and analysis & decisions. The major benefits are time saving for the employees, while it helps the company to maintain control over work flow.

The VAT Refund tool offered by Cashback was introduced by Ms. Shereen Tawfeek, Excel Travel – HRG Egypt. The good news for Egyptian companies: VAT paid abroad can be refunded. The company may reclaim this VAT thereby reducing its travel cost by up to 25%. Some examples of services where VAT is refundable are hotel bookings, meals, business entertainment, car rental, transportation, conference, exhibitions, marketing, consulting, training, and telecommunications. The VAT can be reclaimed in all EU countries plus Canada, Switzerland, South Korea, and many more . But restrictions may apply depending on the country where the company is registered.

Both economic tools drew great interest among the audience, especially Vat Refund, which is a new concept in and which will help to save up a high percentage of business travel expenses.

About Excel Travel: 50 years of experience within the Travel Industry are shared between President, George Fawzi, and Vice President, Amani Fouad, in the fields of corporate travel, leisure travel, meetings, conferences, incentives & exhibitions. Among its shareholders are leading Egyptian Investors in Egypt and the region. In their second year of operation, their annual Turnover exceeded 20 million USD and they are ranked among the top five Travel Management Companies in Egypt.

Excel Travel
Sara Fahmi