EC to consider overhaul of EU VAT number format system
- Feb 25, 2013 | Richard Asquith
The European Union’s Commission (EC) is undertaking an extensive review of the European VAT number format and identification regime. The aim is improve EU VAT compliance system and tax collections.
The proposed tax identification number system (EU TIN) was identified by the EC as requiring review in last December’s Action Plan against fraud and evasion. It is the EU’s ambition to strengthen this system across all 27 member states to facilitate better capture of unpaid taxes. Currently each country has a varying VAT number format which makes the complete recording and comparison of taxpayer details challenging for IT systems.
Simultaneously, the EC has also launched a process to review and harmonise the existing national taxpayers’ codes of conduct, which detail the rights of taxpayers nationally and on cross-border transactions.
