A sales tax code (e.g. VAT number in Germany, UID in Austria) is a unique identifier for companies that participate in the VAT-related movement of goods or services within the EU.
Purpose:
- Identification: Serves to clearly recognise companies in all EU member states.
- Processing: Essential for VAT transactions such as billsadvance declarations and customs formalities.
- Control: Enables tax authorities to monitor transactions and combat tax fraud.
Mandatory:
All companies that supply or purchase goods or services in the EU require a VAT registration number, including those under the small business regulation.
Structure:
The licence plates consist of a country code (e.g. "DE" for Germany) and a number combination.
Application:
The VAT registration number is applied for from the relevant tax authority. The exact procedures vary from country to country.
Significance:
- Accounting: No correct invoices without a valid licence plate.
- Input tax deduction: Only possible with a valid licence plate.
- Customs formalities: Essential for cross-border deliveries.
- Tax advantages: Companies without a licence plate are excluded from VAT concessions.
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