V.I.S. – Verification of VAT Identification Numbers (VAT-ID-No)

Even minor mistakes cost money. Wrong VAT-ID numbers may lead to high VAT burden and penalties.

In the past a correct VAT-ID-No was only a conventional prerequisite for intracommunity supplies. In practice businesses often checked and verified the VAT-Id.No. only once when the client data base is recorded for the for the first time. Due to the changes as of January 2020 the tax exemption of intracommunity supplies is in that cases highly at risk. If a wrong VAT-ID-No is detected only after years high VAT payments and penalties may occur. A regular check of VAT-ID-No of business partner is therefore of utmost importance. 

Our solution: our Value Added Tax Identification Number Information System (V.I.S.) To avoid that minor mistakes become extremely expensive, V.I.S. verifies VAT-ID-No. and helps to correct invalid address data. Furthermore, V.I.S. supports based on the data base of the German Federal Office for Tax (BZSt) and the European MIAS   to keep your customer base data actual regarding your VAT-ID.No. and correspondingly helps with a frictionless tax planning and handling. With the new repository function the received data files of the BZSt can be stored and kept as proof for the tax exemption of your intracommunity supplies.

Our offer includes:
  • Monitor VAT IDs
  • Validation of customer address and corresponding VAT ID
  • Quick address data update
  • V.I.S. enables documentation and archiving of the official confirmation (documentary proof by the received data file)

Even minor mistakes cost money. Wrong VAT-ID numbers may lead to high VAT burden and penalties.

In the past a correct VAT-ID-No was only a conventional prerequisite for intracommunity supplies. In practice businesses often checked and verified the VAT-Id.No. only once when the client data base is recorded for the for the first time. Due to the changes as of January 2020 the tax exemption of intracommunity supplies is in that cases highly at risk. If a wrong VAT-ID-No is detected only after years high VAT payments and penalties may occur. A regular check of VAT-ID-No of business partner is therefore of utmost importance. 

Our solution: our Value Added Tax Identification Number Information System (V.I.S.) To avoid that minor mistakes become extremely expensive, V.I.S. verifies VAT-ID-No. and helps to correct invalid address data. Furthermore, V.I.S. supports based on the data base of the German Federal Office for Tax (BZSt) and the European MIAS   to keep your customer base data actual regarding your VAT-ID.No. and correspondingly helps with a frictionless tax planning and handling. With the new repository function the received data files of the BZSt can be stored and kept as proof for the tax exemption of your intracommunity supplies.

  • Early warning system for invalid VAT-ID-No. and incorrect resp. incomplete address data
  • Quick and comfortable verification of your customer base data with respect to stored VAT-ID-No and address data
  • Detailed information about the incorrect part of the address data
  • Providing of the correct registration address data
  • Clearly structured status column (red, yellow, green)
  • V.I.S. is based on Microsoft Excel and requires no software installation
  • No login at online portal providers necessary
  • Legally secure archiving of the results
  • Easy search for results in the archive (e.g. in case of a tax audit)
  • Multilingual (German/English)
  • Individually adjustable start delay / overnight batch run possible

  • On request, we will inform and advise you on this topic personally during a one-hour workshop.

Which companies are particularly affected?

  • All companies with deliveries within the EU and from 2010, that render cross-border (EU) services
  • Companies with an extensive customer base
  • Companies with a constantly changing customer base

 

Why do companies need a technical solution?

Each entrepreneur is required to verify the correctness of the VAT ID number in compliance with due diligence of a prudent business person. Especially due to the mounting corporate insolvencies, there is a risk of a 19 percent margin loss. In practice, the VAT ID number and the corresponding address data are currently usually entered individually and manually on the website of the Federal Central Tax Office (BZSt). Therfore, address errors oftentimes lead to insufficient query results. Manual amandments of the costumer base lead to an excessive work effort. Tax departments are frequently not able to assess the latent VAT risk.

Instructions on the application of V.I.S.

  • V.I.S. is a Microsoft Excel-based tool, making application only possible in conjunction with Microsoft Excel. Consequently, it is not an independent software.
  • Access criteria for placing a query with the BZSt, is a valid German VAT ID number

Any questions?
We give you a call.

Recommend product
Share via email

Further services with regard to IT Solutions

KPMG VAT-Web | value added tax return at a glance

Meet all requirements for your value added tax return efficiently and easily with KPMG VAT Web.

  • Digital VAT declaration
  • Consolidation of VAT groups
  • Data import from ERP system

KPMG DAC6 Processor - Trial Version | Request your access

Analysis and management of reportable transactions under the DAC6 EU Directive

  • Fully functional trial environment
  • Fictitious master data for testing purposes
  • Most recent questionnaires based on the EU Directive
  • Great flexibility through adjustable workflow and stage concept

KREO – Value Based Analytics for procurement and supply chain management

Create transparency, reduce costs and increase efficiency

  • Direct data extraction from ERP
  • Categorization of requirements
  • Identification of savings potentials