Accountants say itemized VAT return could replace planned VAT rise

Interview

The National Association of Accountants (MKOE) believes the introduction of itemized VAT returns could replace a planned VAT rise, the professional group told MTI on Saturday.

Introducing itemized VAT returns would make audits simpler and more efficient, MKOE said. It would help in the crackdown on the shadow economy and raise VAT revenue, it added.

MKOE suggested the state could subsidize the purchase of IT equipment by SMEs necessary for itemized VAT returns.

The association proposed the introduction of itemized VAT returns to the National Economy Ministry and the tax office in February.

National Economy Minister György Matolcsy on Friday said the government plans to raise the VAT rate from 25% to 27%.

MET Group Records 2nd Most Profitable Year in 2023 Energy Trade

MET Group Records 2nd Most Profitable Year in 2023

Gov't Considering Fuel Price Intervention Government

Gov't Considering Fuel Price Intervention

Real Estate Continues to Strengthen in March Residential

Real Estate Continues to Strengthen in March

Tribe Hotel Budapest Stadium Recognized at LIV Hospitality D... Hotels

Tribe Hotel Budapest Stadium Recognized at LIV Hospitality D...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.