2025 Update: Precise M Sheet Filling and Digital VAT Reporting Changes

From 2025, companies must adapt to changes in domestic summary reports known as M sheets
The autumn tax package mandates more accurate data provision to the Tax Authority for domestic transactions
The ViDA package, VAT in the Digital Age, introduces significant changes for companies and authorities
M sheets now require exact amounts instead of previously allowed rounding
New regulations mandate the use of exact net and VAT figures in forints on M sheets to align with partner online invoice data
Digitalization is reducing the prevalence of manual VAT reporting, with software aiding in faster and more accurate data entry
Companies need to update their programs by 2025 to comply with new data provision requirements while retaining the option to use old rounding methods for VAT returns filed before 2025
The Tax Authority is promoting the use of the eVAT system, which can exempt taxpayers from the need to fill out M sheets

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.