Upcoming new format for VAT number
Belgium’s standard VAT registration number comprises of a ‘0’ followed by 9 digits. The VAT number in a country uniquely identifies taxpayers. As the current sequence of VAT numbers in Belgium is almost exhausted, the VAT number format is now in need of modification. It is expected that the number format will be exhausted within a year. To this effect, the Banque-Carrefour des Enterprises is proposing to issue ‘1’ prefixed numbers to the existing Belgium VAT number format. Existing VAT numbers will remain unchanged. This will require some action from businesses in terms of their accounting and ERP billing processes to accommodate the change. If implemented, the change may also require some modifications to Tungsten’s internal systems. We are closely monitoring timeframes for the expected VAT number format change, while also assessing the impact of the potential VAT number format change. Tungsten Network will implement any required changes to accommodate the new number format when required.