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Our solution provides the automated preparation of domestic recapitulative statements related to VAT returns. Invoice and VAT data of multiple ERP systems can be managed in one place!
Connectax VAT MSheets generates M-sheets to be filed to NAV from the VAT analytics. Data files of the VAT return 65M, 65M-01, 65M-02, 65M-01K and 65M-02K sheets created by the software can be imported directly into the NAV software for filling in forms (”ÁNYK-AbevJava”).
To create M-sheets, the software also exports the data of the NAV Online Invoice system, and thus enables a fast and accurate pre-verification of the M-sheet data.
Our automated solution can process VAT analytics with even thousands of lines fast without manual intervention.
Once our cloud-based VAT reporting service is activated, your colleagues can access the system from any device, also from home.
Our VAT return solution has been developed by the VAT and Digital team of RSM Hungary, the software support is continuous so that there will be no interruption in the VAT returns.
The invoice data required for the preparation of M-sheets are stored. Thus, the invoice data are continuously available for the decryption and management of invoice references, processes and invoice chains related to VAT returns prior to the given period.
We undertake a high level of cloud infrastructure protection required for the preparation of M-sheets. We provide our services as a GDPR-compliant data controller to our data management partners.
From 1 July 2020, all domestic incoming invoices are subject to itemized reporting in the VAT return according to the regulations. Companies must provide detailed information about all supplier invoices in their domestic recapitulative statement submitted as part of the VAT return, on the M-sheets.
In compliance with the legislation, which was introduced on 1 January, 2013 and was amended on 1 January, 2015, fundamentally affecting the VAT administration system, taxable persons are obliged to complete a domestic recapitulative statement. According to the changes effective from 1 July, 2020, domestic recapitulative statement must be submitted not only for domestic purchases reaching or exceeding a VAT content of HUF 100,000, but also for all items, regardless of the amount of the VAT content. Therefore, the preparation and verification of the domestic recapitulative statement significantly increases the time requirement of the VAT return preparation.
The filed statements are combined with the data from the NAV Online Invoice system in the IT system of the tax authority. Any discrepancies identified, as part of the internal risk assessment process, may have a direct impact on the initiation of a compliance or tax audit procedure.
With the help of our consultants this cloud-based solution can be simply and quickly implemented, in the case of both domestic and international companies or company groups. If you have any questions, please do not hesitate to contact our experts!
Contact our expert directly or send us an offer request!