The Regulation establishes a framework for the interchange of data between tax authorities, including:
- If a member state learns information on VAT transactions that may be significant to another country, it engages in a spontaneous exchange of information.
- When extra information on VAT transactions is required from another nation, it is exchanged on request.
- When information is useful for other nations, such as new modes of transportation or non-established merchants, automatic sharing of information is employed.
- Local tax officials may establish international audit teams to manage multinational corporations via joint audits and simultaneous controls.
Source: GVC
