NCATComp410 / comp410_spring_2024

COMP410 spring 2024 semester
MIT License
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Detect IT_VAT_Code #5

Closed NicolasHarris closed 8 months ago

NicolasHarris commented 9 months ago

Value added tax (VAT) number is an identifier to a taxable person or business. Advocates for value added tax says, that VAT is a way to prevent charging the wealthy more through an income tax, by collecting VAT. The ID is used to find the tax that’s been received and paid from a business. Saying so, gives a reason to keep the ID protected, because it’s used to access private tax information. VAT isn't common because it not a system used in the United States, it's used in EU countries, where business owners can apply for VAT for any consumer product or business. For a more in depth understanding about VAT, visit the webpage .

Every VAT ID is different, each number must begin with the code of the country and followed by a block of digits or characters. Each EU country has a different code and a specific number of digits that follows.

by meeting the requirements an ID can be detected by the current format ( Belgium) BE0000000000 (10 characters) more examples including a chart of the codes can be found here.

claesmk commented 9 months ago

@NicolasHarris please also add the Sprint-1 milestone

ekfaulkner commented 9 months ago

Nice explanation. It made me look into VAT numbers and found out that Asia also has VAT codes.