- VIES is a search tool created by the European Commission to validate the VAT identification number of businesses registered in the EU.
- It checks the number against national VAT databases and provides the registered name and address of the company.
- VIES ensures authenticity, facilitates cross-border transactions, and promotes transparency.
- However, there are some drawbacks, such as availability issues, limited data, and potential for misuse. Businesses should not solely rely on VIES and should have backup strategies in place.
- Fonoa offers a platform, Fonoa Lookup, that helps companies meet their tax compliance obligations by automatically validating tax ID numbers from customers and suppliers worldwide.
Source Fonoa
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