Real-time data disclosure

But what is it that we provide data on? Let us review your invoicing processes.

The eyes of NAV (the National Tax and Customs Administration of Hungary) “see everything” with the support of real-time data disclosure or, as it is better known, the online invoicing system. With the continuous expansion of transactions falling under the reporting obligation, the NAV is now aware of all the details of invoices. Practically every single invoice – except for acquisition invoices from abroad – is entered into their system, where any potential formal or substantive errors are immediately identified without human intervention.

If a taxpayer with a Hungarian tax number wishes to fulfill this obligation, they should not only deal with the technical implementation of data reporting but also to conduct a prior examination of the compliance of issued invoices. With the introduction of the eVAT system in 2024, the real-time data disclosure has a greater significance since the data available in this system will be the basis of VAT returns. Therefore, proper data reporting not only means fulfilling taxpayer obligations but also contributes to speed up related processes.

Are you sure that your invoices comply with all requirements? That you always issue the right type of document in the given situation? That the dates of performance, the exchange rates used, the corrections in the invoice have all been applied in accordance with the requirements?

If you are uncertain about any of the above questions, our colleagues can help in identifying and eliminating the possible errors and risks during the course of a brief inspection.

To whom do we recommend our service?

To those who are not convinced that they issue the correct type of supporting documents in all cases
To those who are not sure that their supporting documents comply with the statutory requirements in terms of content or form
To those who invoice in foreign currencies, settle accounts periodically, provide subsequent discounts, etc.
To those who have an obligation to indicate any information by reason of taxes other than VAT (e.g. environmental product fee)
And to everyone who would like to receive a quick and efficient review of their invoicing processes

How can we help?

1. Personal consultation

Two of our advisers will meet you or the employee of your Company responsible for invoicing. During the meeting, we will review the following

typical transactions of your Company;
when and in what circumstances corrections of invoices occur, and what supporting documents are issued for these corrections;
the performance dates shown on the invoices, as well as the obligations to include data in connection with any other tax types (e.g. environmental product fee);
the handling of invoices issued in foreign currencies and
any other questions that may arise.

2. A random inspection of supporting documents

We will randomly select invoices and other documents related to each transaction type, and examine them from the point of view of content and form to check their compliance with the statutory requirements.

3. Written summary

We prepare a short written summary of the findings of our review, and make recommendations for the elimination of any deficiencies identified.

Contractual background

The review of the invoices offers a good opportunity if you are uncertain about the interpretation of the contracts in the background of those invoices, or you find it necessary to draw up the contracts in writing after the fact, or where issuing the invoice corresponding to the contract due to the specialised nature of the transaction is complicated (e.g. the sale of a business line), in which case our lawyer colleagues can help you with the clarification of these issues.

If you have any questions related to our service, please do not hesitate to contact our colleagues directly or through your Forvis Mazars contact person.