A VAT identification number is a unique identification number used by companies trading with other companies within the EU. One can liken the VAT registration number to an ID card for companies subject to VAT. If you plan to start your own business selling goods or services subject to VAT, you must register for VAT before starting the business or when taking over an already established business. When the registration is complete, you will receive a VAT registration number from the Swedish Tax Agency. According to the VAT Act, this number must be indicated on all invoices and receipts.
If you have several companies subject to VAT, you need to register each company separately. Once the registration is complete, you will receive an extract home with your VAT registration number and information on how often you will pay VAT. If you want to know more about VAT registration, you can visit the Swedish Tax Agency's website.
VAT number, formerly known as VAT, is the international term for VAT registration number and stands for Value Added Tax. In Sweden, the VAT number consists of two letters followed by twelve digits. The purpose of the VAT number is to make it possible to check the VAT registration numbers of companies in other EU countries. If you run a Swedish business, you can easily check and trade with companies in Denmark, for example. To get a deeper understanding of how the number is structured in Sweden and other EU countries, you can read more on the Swedish Tax Agency's website.
As a self-employed employee at Shoutly, you don't have to worry about VAT registration numbers, as we handle this for you. When you create an invoice in our web service, the VAT amount is automatically included, but you always set your price excluding VAT. This means that both you and your customer see clearly which amount is yours and which relates to VAT.
It is important to understand that VAT does not affect your profit; it represents neither cost nor revenue. If you are invoicing a company within the EU, it is also a good idea to check the customer's VAT number. For more information on VAT and how to calculate the VAT portion of an amount, please visit the “All About VAT” page on our website.
