VIES (VAT Information Exchange System)
As part of our commitment to compliance and ease of use, we introduced the option for a Reverse Charge Mechanism for VAT and integration with the VIES (VAT Information Exchange System).
1. Simplified VAT Handling for EU Customers: If you are an EU-based business with a valid VAT number registered on VIES, you can opt to not be charged VAT on your invoices. Instead, you will account for the VAT in your own country, simplifying your VAT reporting process.
2. VAT Validation: With our new VIES integration, your VAT number can be automatically verified (refer to point 3). Please ensure the VAT number associated with your fiscal data is accurate and up to date.
3. User Action Required: First, we suggest you verify as soon as possible your own registration on the VIES system [LINK]. STARTING FROM OCTOBER 15, to take advantage of this new system, you will need to log in to your Bookyway account, go to your fiscal data settings, and activate the “Reverse Charge” checkbox.
4. Impact on Other Customers: For EU-based businesses not registered on VIES, non-EU businesses, and individual customers, please note that the price will be increased by the applicable VAT rate.
5. Transparency and Compliance: This system enhances transparency and ensures compliance with EU tax regulations, making it easier for you to do business across EU borders.
We thank you for your attention to this important update. We value your business and are committed to making your Bookyway experience as seamless as possible.