- VIES is a search tool created by the European Commission for VAT validation in the EU.
- It allows users to validate the VAT identification number of a business registered in the EU.
- VIES checks the number against the national VAT databases of EU member states.
- It confirms the authenticity of the VAT number and provides information about the company.
- VIES ensures businesses can engage in cross-border transactions with valid VAT numbers.
- It simplifies VAT compliance by ensuring authenticity, facilitating cross-border transactions, and promoting transparency.
- However, VIES has drawbacks such as availability issues, limited data, data update delays, potential for misuse, and language barriers.
- Fonoa offers a platform called Fonoa Lookup to help companies meet tax compliance obligations globally.
Source: fonoa.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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