Report: NAV to monitor corporate invoicing in real time

Banking

The Hungarian government is planning to link corporate invoicing directly to the National Tax and Customs Authority NAV, an action which would allow the authority to follow invoicing in real time, just as it does with electronic tills, Hungarian economic daily Napi Gazdaság reported on Friday citing Zoltán Pankucsi, the deputy state secretary for tax affairs.

The state secretary noted the success of requiring tills to be linked directly to the tax office, a measure which has raised VAT revenue by HUF 180-190 bln. The government also wants to link vending machines directly to the National Tax and Customs Authority, he added.

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