- A VAT number is necessary for carrying out taxable activities in a foreign country where a physical presence is not established.
- It is not the same as setting up a branch or subsidiary.
- A VAT number is an identification number for all VAT purposes in the country where it was issued.
- Businesses need to register for VAT in a country when performing taxable transactions in that territory.
- Intra-Community movements, exports, and domestic sales of goods are some of the transactions that oblige businesses to register for VAT. Some transactions, such as supplies of services and domestic purchases of goods, do not require a VAT number.
- Recovery of VAT amounts depends on whether a business is registered for VAT or not.
Source Marosa
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