The General Data Protection Regulation (GDPR) has affects the way businesses collect, store, and use personal data of individuals residing in EU. EAS Project is committed to helping businesses also navigate the complex GDPR landscape
GDPR Essentials for Cross-Border VAT Compliance
For businesses engaged in cross-border VAT transactions, it is crucial to grasp the GDPR's implications on data handling practices. The regulation's core principles of transparency, accountability, purpose limitation, data minimisation, accuracy, storage limitation, integrity, and confidentiality apply to all personal data processed by organisations, regardless of their location or the location of the individuals whose data is processed.
Data Collection and Consent
When collecting personal data for cross-border VAT purposes, businesses must obtain explicit and verifiable consent from individuals residing in the EU. This consent must be freely given, specific, informed, and unambiguous, and it should be easy for individuals to withdraw their consent at any time.
Purpose Specification and Data Minimisation
Businesses must clearly define the specific purpose for which they collect personal data and ensure that they only process data that is necessary for the intended purpose. Redundant or excessive data collection is strictly prohibited.
Data Security and Integrity
Businesses must implement appropriate technical and organisational measures to safeguard personal data against unauthorised access, use, disclosure, alteration, or destruction. These measures must be proportionate to the risk associated with the processing of personal data.
Data Transfers and Third-Party Processing
Personal data must not be transferred to third-party processors or organisations located outside the EU unless the recipient country provides an adequate level of data protection. If the recipient country does not offer adequate protection, businesses must implement appropriate safeguards, such as standard contractual clauses or binding corporate rules.
Data Subject Access Rights
Individuals residing in the EU have the right to view, rectify, erase, restrict, and object to the processing of their personal data. They can also withdraw their consent and obtain a copy of their personal data. Businesses must promptly respond to such requests and provide individuals with clear and easily understandable information.
Data Breach Notification
In the event of a personal data breach, businesses must promptly notify the supervisory authority in the EU where the breach occurred and, where feasible, the affected individuals. The notification must include the nature of the breach, the affected individuals, and the measures taken to address the breach.
GDPR Compliance and Cross-Border VAT Operations
By implementing robust GDPR compliance practices, businesses can enhance trust among their customers, avoid potential legal challenges, and safeguard their reputation in the global marketplace. EAS Project is committed to collaborating with businesses to ensure seamless cross-border VAT compliance and foster a secure and compliant data handling environment.