The European Union (EU) is a group
of fourteen(to be enlarged soon) countries which have
agreed on various measures to facilitate trade within
these states. In particular a common policy has been
developed dealing with exactly how Sales Tax(known as
Value Added Tax (VAT)in UK) is handled by merchants.
The Sales Tax/ VAT Number must be collected
by the merchant whenever a sale is made within any of
the EU member states. If the buyer is a commercial business
based within the EU then the merchant must request the
VAT/Sales Tax number from the buyer and apply VAT at
rate of zero percent. However the merchant may only
zero rate the sale if he is satisfied that the number
being given is indeed of correct format for the country
that it is being given. Each of the countries has its
its own format for the number. Bazarbuilder checks the
format of the number being given to see that it meets
required format for the country.
|
