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NAV has made the data of online cash registers available to companies

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NAV has made the data of online cash registers available to companies

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These are the things you should know about NAV’s latest digital development.

The tax authority of the National Tax and Customs Administration (NAV) is making the work of accountants significantly easier by making it possible to download the data of online cash registers from Monday, the tax authority announced on its website. After the test period, NAV’s new service was launched in a production environment on February 6, they wrote.

Digital development can contribute to increasing the efficiency of business processes and reducing the administrative burden of companies, the international business and tax consulting firm Grant Thornton told Computerworld.

As is known, the introduction of online cash registers in August 2014 and the launch of online invoicing in 2018 significantly reduced tax evasion in Hungary. Thanks to the measures, the Hungarian economy has one of the lowest VAT rates (the ratio of uncollected VAT to potentially collectable VAT) among the countries of the European Union, according to the 2020 annual report of the European Commission.

Accessing and processing data files requires additional software and integrations, for which Grant Thornton develops its own applications, thereby improving the cost-effective operation of companies by automating accounting and tax processes, said Pétert Kóczé, head of the digital business division of the company’s international business and tax consulting firm.

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