Hungary
New IOTA Paper Explores Data Reconciliation Procedure for the ViDA Era
IOTA is pleased to announce the publication of a new IOTA Paper, “Real-Time Invoice Data to Enforce VAT Outcomes: Designing an EU-Compatible Data Reconciliation Procedure (DRP) for the ViDA Era”, authored by Mr Ferenc Vágujhelyi, former President of IOTA and former Commissioner of the National Tax and Customs Administration of Hungary (NTCA).
The paper explores the challenges and opportunities arising from the increasing availability of real-time invoice data for VAT compliance and enforcement. It examines the existing “VAT borrowing” problem and proposes a Data Reconciliation Procedure (DRP) as an automated approach to reconciling invoice data and VAT declarations, while preserving the principle of self-declaration and ensuring appropriate due-process safeguards.
The paper places the proposed approach in the context of the EU’s VAT in the Digital Age (ViDA) reforms and considers how tax administrations can use transaction-level data more effectively to strengthen VAT compliance.
📄 Read the full IOTA Paper:
Real-Time Invoice Data to Enforce VAT Outcomes: Designing an EU-Compatible Data Reconciliation Procedure (DRP) for the ViDA Era
If you have relevant insights to share and are interested in publishing your own IOTA Paper, please reach out to the IOTA PCP in your Tax Administration and use the submission link in our monthly newsletter. We look forward to receiving your contributions.
In the meantime, if you wish to browse previous issues, please visit the dedicated IOTA Papers webpage at https://www.iota-tax.org/publications/iota-papers
We wish you a good read!
