Waterford, Ireland, June 16, 2010 --(PR.com
)-- Global Business Register Ltd., the premier provider of global, official company information, today announced the launch of its new VAT number validation service.
Commenting on the launch of the new service Mr. Ben Cronin, Chief Executive Officer of Global Business Register, said, “We are delighted to announce the launch today of the VAT number validation service. The service is provided via the GBRDirect website for single and batch checking of VAT numbers and also through a specially designed web service, whereby companies can integrate the solution into their own IT systems. This means that companies, trading across Europe, can eliminate the potential risk associated with incorrect or invalid VAT numbers being used in sale or purchase transactions at the point a customer is setup. The service is provided via the European Commission VIES VAT system whereby each VAT number being queried is checked in real-time against a database of VAT numbers held by the tax authorities in each European Union country.”
This service addresses a problem that companies are generally unaware of until they are informed by their inspector of taxes that VAT payments are due on amounts that the company thought had been properly accounted for at the 0% VAT rate. This can cause significant impact to companies that are experiencing cashflow difficulties since tax payments generally take precedence over others and the expense would not have been planned.
Global Business Register Ltd. with offices in Waterford, Ireland and London, U.K. is the leading on-line provider of official European Company Information sourced through the European Business Register Network. With access to data on over 22 million companies, GBRDirect is the most reliable source for checking the legal and financial status of potential customers, suppliers and partners.
For further information, please contact:
Director, Professional Services