T.R.U.S.T. form-filling module - A60 sheet
Preparing VAT returns, form filling and submission with software support
The business challenge
As of 1 January 2013, taxpayers must prepare as part of their VAT return a domestic recapitulative statement for domestic purchases with a VAT amount of HUF 100,000 or more. Preparing and checking this statement significantly increases the time required to prepare VAT returns, which is in itself time-consuming.
However, from 1 July 2020, the rules for taxpayers to provide data for the domestic recapitulative statement and for outgoing online invoices also changed significantly, as the previous output tax threshold of HUF 100,000 was abolished for both the recapitulative statement and for online invoice data reporting.
These changes impose a significant administrative burden on some taxpayers, as the number of “M” sheets and invoices previously submitted has increased substantially.
At the same time, all invoices received can now be downloaded thanks to a new feature in NAV’s Online Invoicing System, which makes it possible to automate the checking of domestic supplier invoices, the reconciliation of “M” sheets, and the accounting of supplier invoices. Our services below are based on these legislative changes and the capabilities of the IT systems concerned.
How we can help
Tax Return Unified Support Tool - T.R.U.S.T.
VAT returns in a few clicks
Tax Return Unified Support Tool - Automating VAT returns
In order to minimise the administrative burden for businesses when preparing and completing VAT returns and EC sales and purchases lists, PwC’s tax experts and Smart Tax developers have jointly created an IT solution called Tax Return Unified Support Tool (“T.R.U.S.T.”).
T.R.U.S.T. comprises a complete analytical processing module and various sub-modules (for completing Forms “A” and “M” and EC sales and purchases lists), which are available either as a package or separately.
PwC’s application can receive data from any ERP system, process it, identify any logical or formal errors and, once these have been rectified, automatically load the relevant data into the relevant sheets of Form 65 or Form A60.
The application makes it quick and easy to prepare AbevJava forms for VAT returns. It is important to note that the form-filling sub-module(s) is/are suitable for preparing tax returns for a given year, so the application will be updated annually, or more frequently as the rules change.
Our T.R.U.S.T. (Tax Return Unified Support Tool) software solution automates completion of the following form: 20A60 EU Intra-community lists
Take a look at the software!
T.R.U.S.T. form-filling module
T.R.U.S.T. form-filling module
The benefits of our solution at a glance
Automatic data processing
Automatic data processing from the enterprise’s ERP from various format.
Validation of VAT numbers
Validation of Community and Local VAT numbers from the VIES.
Logical testing
Logical testing of VAT codes and tax numbers.
Automatic calculations
Automatic execution of calculations due to changes in foreign exchange rates.
Wide range of use cases
Wide range of possible use cases due to the modular structure of the tool.
Extensions
AP invoice reconciliation module as add-on.
Pricing
T.R.U.S.T. form-filling module - A60 sheet
1 500 EUR/ year / entity
- Automatic data processing from the enterprise’s ERP from various format
- Validation of Community and Local VAT numbers from the VIES
- Logical testing of VAT codes and tax numbers
- Automatic execution of calculations due to changes in foreign exchange rates
- Wide range of possible use cases due to the modular structure of the tool
- AP invoice reconciliation module as add-on
T.R.U.S.T. form-filling module - M sheet
2 000 EUR/ year / entity
- Automatic data processing from the enterprise’s ERP from various format
- Validation of Community and Local VAT numbers from the VIES
- Logical testing of VAT codes and tax numbers
- Automatic execution of calculations due to changes in foreign exchange rates
- Wide range of possible use cases due to the modular structure of the tool
- AP invoice reconciliation module as add-on
Reduce the administrative burden of preparing VAT returns with the help of T.R.U.S.T.
Questions?
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