From left:
Jonas Hagan Gudmundsson,  CEO - ERGN
Luciano Ochoa, CEO - ERGS
Sigurdur Veigar Bjarnason,  Vice President / IT Manager
Stefan Intemann, Vice President / Marketing

The management team of Euro Refund has over 10 years experience in the V.A.T. refund sector, and has already launched operations successfully in Iceland, Spain, Portugal, France, Austria, Switzerland, Denmark, Ireland and the UK. Similar concepts are being implemented in two new markets. Euro Refund expansion will be based on an already successful and fully developed concept. Iceland Refund was established in 2001 and currently enjoys a 65% market share. The operation in Spain was launched in January 2003, in the UK in March 2003 and in Portugal in August 2003.  Detaxe, a French company established in 2001 was taken over January the 1st 2004 and Austria Refund was launched in October 2004. Ireland Tax Free Refund was established in March 2006 and Denmark Refund in June 2006. Euro Refund will establish itself in new markets by the same management team that successfully operates the above-mentioned businesses.