What is VIES

VIES stands for the "VAT Information Exchange System".

It is a web-based system that allows businesses to check the VAT (value-added tax) registration of a company in another European Union (EU) member state.

This system is designed to help businesses comply with EU VAT regulations and prevent fraud.

VIES is an important tool for businesses operating within the European Union (EU). It allows companies to quickly and easily check the VAT (value-added tax) registration of other businesses in different EU member states.

This information is crucial for ensuring that companies are being tax compliant and avoid potential legal issues.

The VAT is a tax on consumer goods and services that is applied at each stage of the production and distribution process. In the EU, the VAT rate varies from country to country, with some member states applying a standard rate, while others have reduced rates for certain goods and services.

As a result, businesses operating within the EU need to be aware of the VAT rules in each member state where they conduct business. This can be a complex and time-consuming process, which is where VIES comes in.

To use the system, a business simply needs to enter the VAT number of the company they want to check. The system will then provide information on the company's VAT registration status, including whether they are registered and eligible to receive tax exemptions.

By allowing businesses to easily verify the VAT registration of other companies, VIES helps to ensure that companies are not able to claim tax exemptions without being eligible. This helps to level the playing field for businesses and ensures that the VAT system operates fairly and efficiently.

Askfino for VAT verification

Askfino is a VAT verification tool that allows you to check the VAT registration of companies in any EU member state.

It is a simple and easy-to-use tool that can be used by businesses of all sizes.

Check our previous article on audit-proof VAT verification to understand why a tool such as Askfino can be important for your business and make your life easier.

Ready? Start a free trial today.