Registration of VAT Code

Registration of VAT Code (Value Added Tax) is a process in which a company or individual registers as a VAT taxpayer and obtains a unique VAT code. The VAT code is used to identify the VAT payer and distinguish them from other tax payers. A company must become a VAT payer if its annual income exceeds 45,000 € or if it acquires goods worth more than 14,000 € from EU countries during the calendar year.

For the process of VAT code registration, a registration application form is submitted, which needs to be filled out and submitted to the State Tax Inspectorate (VMI). Additional documents may also be required, such as company establishment documents, bank confirmations, and so on.

After VAT code registration, the company or individual receives an official VAT code, which must be used in all VAT-related operations, such as invoices, tax declarations, etc.

It’s crucial to pay attention to tax administration provisions and deadlines for submitting declarations and paying VAT. Proper accounting related to VAT must also be maintained, and tax laws and regulations must be followed to avoid violations and potential penalties.