Italy cancels 60,000 VAT numbers
- European News
- 15 October 2016 | Richard Asquith
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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