Italian Revenue Agency to cancel over 60,000 VAT numbers
The Italian Revenue Agency will cancel over 60,000 VAT numbers from the European VAT Information Exchange System shortly.
The anti-fraud measure is targeting businesses that had not filed EC listings in Q1 2015. Any company contacted by the Italian VAT authorities with a cancellation notice will have to produce evidence within 60 days of intra-community trades to retain their VAT number. Removal from the VIES system will mean businesses will not be able to trade VAT-free on B2B supplies across EU internal borders.