The Importance of Checking Intra-Community VAT Numbers for Exemptions and Compliance

• Checking intra-community VAT numbers is important for securing the exemption for intra-Community supplies, managing specific regimes, and fighting against fraud and carousel schemes.
• The validity of the VAT number is a condition for the exemption of intra-Community supplies.
• Without a valid VAT number, the company cannot apply the exemption and may be subject to penalties.
• It is necessary to set up a procedure for periodic verification of VAT numbers and keep evidence of such checks.
• Cyplom provides a platform for managing VAT number databases and conducting regular checks.
• Communication of a valid VAT number is necessary for the application of certain regimes.
• The communication of a valid VAT number is a condition for the application of a presumption of status as a taxable person for VAT.
• Some Member States have mechanisms for reversing the taxpayer, which require the communication of a valid VAT number.
• Failure to provide a valid VAT number may result in the application of different VAT regimes.

Source: cyplom.com

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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