2020 VAT changes: how to prepare for mandatory VAT ID identification
As you probably know, new VAT rules on intra-EU trade will enter into force on 1 January 2020 – in an effort to harmonize and simplify legislation and counter intra-EU fraud. One of four “quick fixes” that the EU agreed on is the mandatory VAT identification number on intra-EU invoices. While relatively straightforward, the rule may have a considerable impact on your business. How can you prepare your processes and, consequently, your ERP system to ensure compliance?