The main purpose of the data reconciliation procedure for the Hungarian Tax Authority (NAV) is to regularly compare the data from the real-time invoice reporting system with the information on the VAT returns, in particular the M sheets, submitted by companies.
In case NAV discovers discrepancies in the data provided by the taxpayer, a request for clarification will be sent to that taxpayer. The taxpayer has 15 days from the request's receipt to clarify discrepancies; otherwise, a fine of…