What are the most important changes?
Extension of the scope of the real-time invoice reporting
The real-time invoice reporting is becoming comprehensive, covering all outgoing invoices in two phases
As of 1 July 2020, all invoices issued to a taxable person (B2B relation) on domestic transactions –except for intra-Community supply of goods – will be subject to the real-time invoice reporting without any threshold.
As of 1 January 2021, the real-time invoice reporting will cover all invoices that have to be issued according to the Hungarian legislation including B2C transactions, intra-Community supply of goods/ services and export sales.
Downloading purchase invoice data from the tax authority’s portal
Massive, automatic and real-time download of purchase invoice data is available
Massive, automatic and real-time download of purchase invoice data is available at the Hungarian Tax Authority’s portal for further accounting and tax compliance purposes.
As of 1 July 2020, due to the abolition of the threshold of the real-time invoice reporting, all domestic purchase invoice data may be downloaded in B2B relation.
The administrative burden is increasing regarding the inbound invoice data
Extensive invoice data to be reported in the DSPL
The abolition of the threshold of the real-time invoice reporting will imply that as of 1 July 2020 all domestic purchase invoices will have to be reported in the DSPL.
VATOnline allows your Company to fully automate the processing of inbound invoices. Learn about the functionalities below, which may also available as an individual service, allowing your Company to:
Get immediate review of the data of inbound invoices
Ensure legal compliance
Get practical help in performing various invoice checks
Fully automate the inbound invoice processing
Reduce the administrative burden and expenses
The functionalities of VATOnline
Enhance management of accounts payables
VATOnline is capable of downloading the purchase invoices issued to the Company’s tax number and reported to NAV by the suppliers. With a flexible and extended search functionality, both the head and line-level invoice data can be downloaded and exported into an Excel format. At special request, VATOnline is capable of transferring the downloaded data to a designated system in order to complete the invoice data.
Start the day with your automatic report
VATOnline is capable of a scheduled inquiry of purchase invoice data issued to the Company’s tax number by the suppliers within a timeframe specified by the Company.The data content and timing can be customized individually.
Generate your DSPL
With this new function, VATOnline can generate a report file for the purpose of a DPSL preparation according to the Company’s specific requirements. By default, the report file can be exported either into an ENYK format or an Excel format, and contains all the invoice data issued to the Company’s tax number by the suppliers. At request, other special file formats may also be available and VATOnline would be able to transfer the export file data to a designated system via a direct communication interface.
Validate your DSPL
VATOnline is able to run checks on DPSL returns and validate their content by comparing them with the supplier invoice data downloaded from the NAV portal. As a result of the reviewing process, VATOnline automatically generates a report file including the completeness and appropriateness of the DSPL and information about the potential errors per supplier invoices. At request, both the input and export file format can be customized and the data exchange between the source system and VATOnline can take place automatically via a direct communication interface.
Automated booking of the purchase invoice data
VATOnline is capable of generating a special data file from the downloaded supplier invoices to be used for accounting purposes. The export file may be automatically transferred directly to Company’s ERP / accounting system or a designated server folder.
Monitoring of the business partners and suppliers automatically
’Partnerscan’ provides automated checks on business partners’ and suppliers tax ID numbers in order to mitigate any potential risk during the exercise of the VAT deduction right. The algorithm checks all relevant publicly available database of the Hungarian company register and the official databases of NAV in comparison to the transactional data extracted from the Company’s ERP system to provide a full picture about tax risk status of the business partner. Due to the historical database, the checks can be also initiated retrospectively. As a result of the automated check VATOnline generates a detailed report to be archived and used upon a potential tax audit.
