Reference Numbers
Reference Numbers are unique identifiers issued by tax authorities in various countries where your company is seeking VAT refunds. These numbers are usually not mandatory but essential for the VAT recovery process for several reasons:
- Tax Authority Identification: Reference numbers help local tax authorities recognize your company when you submit VAT refund claims. They ensure that the correct business is associated with the claim.
- Tracking Claims: Reference numbers allow both your company and tax authorities to track VAT refund requests, making it easier to monitor the status of claims.
- Faster Resolution: Refunds are usually faster when Tax Authorities know the Claimant Company from past claims.
In VAT4U, you can enter the relevant reference numbers for each country where your company is seeking a VAT refund if applicable. You can do that by clicking on My Account, then selecting Home company settings, and going to VAT Information.