ONESOURCE Indirect Tax provides an API to all ONESOURCE Determination and Compliance customers who can utilize this API to validate their trading partners at all times. The API can be accessed through the Thomson Reuters API gateway. The API validates the registration numbers against VIES (HMRC in UK and the XML-RPC interface provided by Germany). The API can be integrated with customer information systems storing customer master data (ex: ERP systems) and can be used for validation in a streamlined way.
To ensure the accuracy of the transaction tax liability customers can validate their trading partners at:
The time of onboarding
Before issuing invoices
Before filing tax returns
Who needs to do VAT Registration Validation?
The validation should be done by any business or commercial entity registered in EU or UK. All businesses, irrespective of being based out of EU/UK, need to do this if they are registered in EU/UK and trading in the region. Moreover, the companies need to validate their vendors and customers periodically to ensure that their trading partners continue to maintain their standing as taxable persons.
OVERVIEW
ONESOURCE Indirect Tax provides an API to all ONESOURCE Determination and Compliance customers who can utilize this API to validate their trading partners at all times. The API can be accessed through the Thomson Reuters API gateway. The API validates the registration numbers against VIES (HMRC in UK and the XML-RPC interface provided by Germany). The API can be integrated with customer information systems storing customer master data (ex: ERP systems) and can be used for validation in a streamlined way.
To ensure the accuracy of the transaction tax liability customers can validate their trading partners at:
Who needs to do VAT Registration Validation?
The validation should be done by any business or commercial entity registered in EU or UK. All businesses, irrespective of being based out of EU/UK, need to do this if they are registered in EU/UK and trading in the region. Moreover, the companies need to validate their vendors and customers periodically to ensure that their trading partners continue to maintain their standing as taxable persons.