Do you require a digital solution to swiftly verify a VAT number’s validity and collect data from potential customers in the process? There just so happens to be an API designed to do that.
Getting a new client is typically cause for celebration, but the processes needed to formalize a new client relationship so that it can be acknowledged before the Treasury can be difficult.
After all, each industry has specific tax regulations that must be considered in order to prevent an initially successful business from suffering unexpected losses as a result of improperly paid taxes.
All economic activities, including trading, importing, and exporting of goods, require a VAT number. Officials can distinguish between taxpayers, businesses, and non-taxable groupings by using this distinctive identifier, which is composed of number characters.
They are frequently required on bills and are crucial for figuring out the location, tax rate, and tax status of the required products. A VAT number, which is particularly important in EU countries, goes by several different names.
While some companies place orders for services that require VAT from customers, other companies offer services that require VAT from customers. When their VAT turnover surpasses £85,001, these businesses are required to apply for a DPP VAT number.
As a result, businesses who sell goods to many EU nations are unable to run their entire operation under a single VAT number. Therefore, they would need to submit an application for VAT registration in each of these nations. Companies that might offer services in the fields of technology, media, and communications can register using a simplified form to hasten and enhance the procedure.
Personal VAT numbers are necessary for the following parties, per Article 214 of the VAT Directive: companies that offer goods and services subject to the VAT and companies that make purchases from companies based in the EU.
It is your duty as a global B2B company to make sure the VAT is correct and up to date. You lose money if you use out-of-date customer data. You should ask for a new VAT number if the one your customer has now expires. If not, you’ll need to start adding more VAT; in that case, the reverse-charge process won’t matter.
Using the VIES program or the Registry of Intra-Community Operators, you can verify the accuracy of the intra-community VAT. To avoid issues with the Tax Agency, it is crucial to verify this in advance.
If the required Tax invoice is not present in the record, it might not exist, it might be inactive, or the certification might be off. If you work in a business and need to demonstrate that your books are open, or if you work in the tax division, you will have various VAT numbers to check each day. We advise utilizing an API to hasten this process.
That is why the existence of technologies for automatically locating and updating clients’ VAT numbers is a blessing. One of these is the VAT Validation API, which can verify a number’s validity and its carrier information with just a quick search.
The best approach to determine whether a VAT number is legitimate is to use the VAT Validation API. It is incredibly quick and simple to use. This application programming interface is applicable to all EU members. You can discover more about the business whether the value-added tax is legitimate. If you don’t already have the company name, city, address, zip code, and other details.
The VAT Validation API scans numerous databases from around the continent in order to identify matches with the VAT number you’re looking for. The report will also provide the name of the business, its address, and the nation to which the number belongs.