The threshold of the Domestic Recapitulative Statement will be ceased as of 1 July

In accordance with the current legislation, domestic invoices with a VAT content of at least HUF 100,000 have to be declared itemised in the VAT return.

The regulation will change as of 1 July 2020, from this date the threshold of HUF 100,000 will be ceased, thereby taxpayers will be required to provide detailed data on each supplier invoice in the domestic recapitulative statement as part of the VAT return.

As this change can mean a significant administrative burden to most Companies, it is recommended that the necessary steps are taken to ensure compliance in a timely manner. Created by PwC developers and tax experts, T.R.U.S.T solution - which automates the completion of the 2065A VAT return form, the 2065M domestic recapitulative statement and the 20A60 EU Intra-community list - can significantly facilitate complying with the regulation, saving our customers considerable amount of time, money and resources.

Functionalities of T.R.U.S.T

• With T.R.U.S.T, the completion of the domestic recapitulative statement can be automated with a few clicks, without any implementation process.
  
  The above described form-filling application can be enhanced with other additional functionalities, such as: automated validation of EU tax numbers through VIES system; reconciliation of the data of supplier invoices reported by the Company in their VAT return and the data of invoices submitted by the Company’s suppliers to the Online Invoice system, in order to conduct the pre-check required by Tax Authority'spractices regarding VAT deduction.
  
  In some cases, the quality of the data in the domestic report can also be improved by querying data from the Online Invoice (e.g. in many cases, the missing completion date in ERP systems can be automatically verified and filled using data from the Tax Authority's system).
• T.R.U.S.T has a modular structure: in addition to the above, it also includes other complex features, that we are pleased to inform our customers about within further consultation.

In case you are interested in the above, please do not hesitate to contact your usual partner or László Deák (tel: +36 30 525 4717, e-mail: laszlo.deak@pwc.com) or Gábor Farkas (tel: +36 30 527 5919, e-mail: gabor.farkas@pwc.com).