Why validate tax numbers at all?
There are several reasons to validate a tax ID, but the three most common are:
- Sales: for multinational enterprises to charge customers the right amount of VAT/GST on their cross-border sales.
- Purchases: for businesses to check that their suppliers are properly registered to charge VAT/GST; and
- Data Sharing: for platforms and marketplaces to accurately share data about the persons trading via their sites and applications (aka ‘platform sellers’).
Source Fonoa
Latest Posts in "World"
- 50 Country Profiles on E-Invoicing, E-Reporting, E-Transport, SAF-T Mandates, and ViDA Initiatives
- Learning AI in Tax: Where to Start
- E–invoicing Developments Tracker
- OECD Releases Guidance on Digital Transactional Reporting Systems for VAT Compliance and Administration
- OECD Issues Guidance on Digital VAT Transaction Reporting to Promote Global Standardisation and Compliance
