VAT

Basically, the accounting practices in Denmark is very "invoice-centric". So the general rules are:

VAT for IxDF USA

All Transactions and Invoices always have 0% VAT

VAT for IxDF Denmark

1. VAT is always 0% for Payers from outside the EU
2. VAT should be 0% if the Invoice contains all the following info:
   1. Address of the Payer
   2. Name of the Payer
   3. Name of the Payer’s Company
   4. VAT ID of the Payer’s Company
3. VAT is 25% for all the rest cases.

Only companies have VAT ID.

For more info you can check Accounting Preparation/Accounting Preparation - 3.1 VAT number validation - Specific for IxDF DK APS.docx