Secure VAT is a protection system against losses caused by business partners who have an invalid VAT code, who apply VAT split or VAT on cashing.
The biggest danger for you from this point of view are the suppliers with an invalid VAT code, but who continue to issue invoices with VAT. The latter becomes your expense in the case of a fiscal audit, plus interest and penalties.
Another such situation occurs with suppliers who voluntarily or compulsorily apply VAT split. If they have not informed you that you have to make the split VAT payment in their special VAT account, you are in a situation where you can lose important amounts and pay interest and penalties. Attention should also be paid to when you deduct VAT from suppliers who apply VAT on cashing.
How you can use Secure TVA
With the Secure TVA app, you can check all of your partners in terms of VAT status. On the ANAF website you can only check VAT codes manually, one by one, and you can get complete information only by accessing three separate websites. With the Secure TVA app you can quickly check a whole list of VAT codes by simply clicking one button. You can even check your entire 394 tax statement each month. For ease of use, we also included the option to check individual VAT codes in the app.
VAT codes can be checked at any past date. This optimises your checks because you can check the validity of the VAT code for each invoice individually. In addition, the app allows you to manage the type of each checked VAT code, so that a filter applied directly in the app or in an Excel export gives you a very clear picture of all VAT codes checked.
For full protection, we recommend that you check all your suppliers’ invoices before paying them to make sure they do not have an invalid VAT code and do not apply VAT split and at the same time to check your entire 394 statement each month to ensure that your suppliers and customers are reported in the right category.