Continued Revenue Controls even after Closure of VAT Registration: Budget Bill 2024

• The draft budget law for 2024 aims to strengthen the fight against false or inactive VAT numbers.
• The effects of the cessation of the VAT number issued by the Revenue Agency also apply to those who have requested the closure of their VAT number in the previous 12 months.
• The consequences of this measure are significant compared to the ordinary consequences of voluntary closure of the VAT number.
• The purpose of this strict regulation is to protect the Treasury from possible fraudulent conduct.
• The Revenue Agency will conduct risk-based checks on VAT numbers, including those that have requested closure in the previous 12 months.
• The checks will verify compliance with VAT regulations and the regular exercise of business activities.
• Taxpayers invited to appear before the Revenue Agency can provide documentation to prove the absence of the contested risks.

Source: eutekne.info

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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