The fundamentals of VAT registration

The fundamentals of VAT registration , learn all about it on vacue.us

VAT registration is one of the most fundamental and important aspects for the companies that are known to operate under the guidelines of the EU. For the companies that have been associated with import and export of goods from the EU states, VAT registration is impeccable and extremely important at the same time.

There are a certain set of guidelines that need to be followed by the companies operating under the jurisdiction of the EU member states. Particularly the companies that have been actively associated with the transfer of goods (import and export of goods) across the European Union, it is compulsory for such companies to have a unique VAT registration number.

The requirements of applying for a VAT registration number has been known to vary from countries to countries, but in all they are conveniently based on a certain set of guidelines commonly addressed by EU governing council. It is compulsory for the EU member states to implement each of these guidelines into their VAT registration system making the system quite generous.

The non-resident companies however have been exempted form VAT registration as of now by the European Union. In addition to that the several operating e-commerce companies have been acknowledged with a unique “distance selling VAT registration” regime. These two are the primary exceptions other that which the companies need to be registered under the VAT system to operate with their export and import businesses. Currently no EU member state has been known to have been implementing any other forms of jurisdictions.   

 

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