The Italian Revenue Agency will cancel over 60,000 VAT numbers from the European VAT Information Exchange System (VIES).
The anti-fraud measure is targeting taxable businesses that had not filed EC listings in Q1 2015. Any company contacted by the Italian tax authorities with a cancellation notice will have to produce evidence within 60 days of intra-community trades to retain their number. They may reapply of a VAT number at a later date.
Removal from the VIES system will mean such businesses should not be able to trade VAT-free on B2B supplies across EU internal borders.
It is anticipated that the Agency will undertake further such reviews in the near future.
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VP Global Indirect Tax
Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.