Deloitte TaxTech | Automated VAT Return | Deloitte Hungary

Automated

VAT Return

Reduce tax audit risks by automating the preparation of your returns or by cross-checking the content of your returns.

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Preparing or checking VAT returns and sales lists

Based on incoming invoice data

Taxpayers now have a wide range of data sources at their disposal to fully or partially automate the preparation of VAT returns. In addition to own records of businesses, invoice data reported online by their business partners can also be used.

Cross-checking of invoice data, i.e. checking that the data reported in VAT returns are consistent with the data reported online by taxpayers and their business partners, is a key element in the tax authorities' risk analysis, which is one of the most important ways of selecting for tax audits.

Full or partial automation of the return preparation process can improve business efficiency in two very important areas.

On the one hand, manual return preparation is an administrative burden, especially for sales lists. The resources devoted to this can support the business more efficiently if information extracted from business management systems or partner data is used in an automated way, resulting in a simpler, more flexible and shorter return preparation process once implemented.

Automation can also eliminate manual errors and build cross-checking steps into the process, which is increasingly needed due to the tax administration's increasingly sophisticated data analysis and audit selection methods.

Features of our solution

The draft VAT return is just a few clicks away.

You can automate the preparation of the domestic sales list, the main pages of the return, and the Community sales list.

The data source for the system is the tax authorities' invoice database and the data in your company's ERP systems.

The automated process involves the cleansing, filtering, sorting and processing of the data set extracted from the case management system.

The system retrieves the invoice data reported by the partners to the company and loads them directly into the tax return or cross-checks them against the data recorded in the company's ERP systems.

If cross-checking functions are used, a summary report is generated of any discrepancies identified, which highlights any data quality or systemic problems.

Legislative background

  • ❯
  • VAT return, certain additional information to be included in it and the reports related to the VAT return (domestic sales list, EU sales list) are provided for in Annexes 4/A and 10 of Act CXXVII of 2007 on Value Added Tax.
  • ❯
    The deadlines and submission procedures for tax returns are regulated in Annex 2 to Act CL of 2017 on the Rules of Taxation.

Why choose our service?

  • Automated return preparation for domestic and Community sales list or for the full VAT return
  • Minimize the risks associated with manual processes
  • Flexible access to data reported by suppliers, real-time and automatic data validation
  • Flexible controls that can be tailored to the needs and activities of the business (e.g. tests on the use of exchange rates)

Customers
already using our solutions

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Want to know more about our service?
Get in touch with our experts!

Zoltán Tancsa

Partner-in-Charge

Richárd Sík

Director

Melinda Timkó

Senior manager

Find out more about VATOnline's

further features

Automatic Pre-accounting of Incoming Invoices

Partner Verification


Invoice Digitization and Archiving

Online Invoice Data Disclosure and Data Export