Indicator – Economy – NAV lags behind, but there will be no draft VAT return for July
It seems that the preparation of electronic VAT returns is not only taking longer than planned for taxpayers, but also for tax authorities. The government decree of July 16 delayed the deadline, so for the first time companies can count on this help preparing their October VAT returns – it turns out. Hungarian newspaperFrom.
The postponement is also likely due to the fact that a long-awaited feature of the NAV billing reporting system is scheduled to be operational by the end of the summer, which will allow the inclusion of online cash register data in billing statements and subsequently in advertising projects. Thanks to this and the tests, which are also planned from the end of the summer, taxpayers can count on help, albeit later, and supposedly of better quality.
However, drafts will not be completed this way for some time. It is expected that VAT on imports of goods, purchases of goods in the European Union and reverse charge transactions will only be available in draft VAT returns next year, so returns must be supplemented with data for these transactions.
Draft returns are planned to be available as of the 12th of the month following the reporting period. Due to the delay, and for the first time between November 12 and 20, instead of August, VAT subjects will have the opportunity to fulfill their reporting obligation not in the usual way, but by amending, supplementing, accepting and submitting the draft. Based on current information, drafts must already be approved, and will not be approved automatically.
Even after drafts are available, it will be possible to present advertisements in the “traditional” way. Drafting VAT returns is usually an administrative burden for small businesses, while larger businesses with high turnover and complex activities are likely to find it easier to comply with tax return obligations in their current form.