Tax ID Verification
Easy software solution for managing and improving tax compliance with global VAT checks.
Confidently navigate European Union tax landscape with correct data
As required by the EU directives for intra-community transactions, every company in the European Union must ensure correctness of any other EU business partner’s VAT ID number. Manual verification if VAT ID is linked to company name or address and actually corresponds to the registered data in respective VAT registration leads to a lot of administrative challenges for companies.
Moreover, with recently changed requirements of Intrastat declarations, you don’t want to risk a fine of up to EUR 50,000 by providing incorrect information to foreign trade statistics.
To bulletproof your tax compliance for EU deliveries and services, business partners VAT registration number checks are essential along with associated documentation. Result? Seamless audit trail and smooth tax processing.
Our capabilities
- EU VAT qualification of business partners identifiers, legal name and addresses
- Address cleansing and enrichment via reference sources
- Connectivity to VIES and local registers enabling checks via single ready-to-use interface
- Configurable data quality rules for customized validation process
- Batch master data quality profiling on large datasets
- Continuous monitoring of business partner changes with push notifications
- Detailed report about identifier validity and corresponding format issues
- ML capabilities included in identification of natural persons
Identify master data inconsistencies to avoid tax risks
While regulated by law within European Union, tax landscape outside EU isn’t less complex and poses risks when invalid tax number or national identifier are used in transactions. Inconsistencies between reference data of a particular identifier compared to the data maintained by your company can affect supply of goods and lead to late payments, incorrect invoices and additional time-consuming and nerve-wrecking corrections.
For instance, with over 55,000 jurisdictions tax codes in the United States, inconsistencies in master data, and in address data in particular, can backfire on you for violating tax regulations.
By matching tax IDs with official registers, you can make sure that legal address, names and business identifiers are correct. Automated validation of master data enables thorough check of business and location identifiers (i.e. GST numbers, tax identifiers, national identifiers and other third party and proprietary identifiers) with respect to existence, format, reference format, check digits and consistency. Avoid problems with tax authorities not just once, but continuously.
Our capabilities
- Global VAT/ GST qualification against trusted authority services connected to CDQ
- Address cleansing and enrichment via external address data sources
- Address check customizable to business application requirements (e.g. SAP) and country-specifics (e.g. assignment of PO Box data)
- Address Cleansing and Enrichment Reports containing cleansing activities
- Identification of compliance or risk issues in business partner data records
- Continuous monitoring of business partner updates in external data sources
- Validation of business and location identifiers with configurable data quality rules
- Automated screening process via API or web app for a one-stop-shop experience
Recommended solutions
More trust: Asses data
Find out how much of your existing data is correct, complete and fit-for-use. Rule-based assessment of data quality reveals any duplicates and errors across your business partner datasets. Our platform is open to all connected registers – including audit-trail.
More speed: Create data
Create new business partner data records fully correct and fit-for-use from the start. Rule-based validation of onboarded record prompts missing or incomplete information and qualifies tax identifiers against trusted authority services.
More efficiency: Maintain data
Continuously monitor correctness of tax ID and address details of an existing business partner. Automated ongoing validation ensures you are always working with the most up-to-date information and any changes of data records are prompted to you in the system and through push messages.
