Online connection of e-books and invoices to the Ministry of Finance

April 4, 2018

The online connection between accountants and accounting departments of businesses with  the tax audit services of the Independent Authority for Public Revenue will be implemented shortly and the usage of electronic invoices will be promoted further.

Within this context, the Independent Authority for Public Revenue claims that electronic bookkeeping may contribute to the simplification of tax conformity procedures, if it would be combined with the already promoted electronic invoicing.

The measure of electronic bookkeeping means that the accountants of small and medium-size businesses, as well as the accounting departments of the big companies will be online connected with Independent Authority for Public Revenue, in order to send all data of the financial transactions of the businesses automatically. The online connection should be operated simultaneously with the electronic invoicing, because this way every transaction sent electronically via the process of electronic invoicing will be cross checked, verified and confirmed with the data submitted in the electronic books, so there will be no tax avoidance possibility. Eventually, the tax return submission will no longer be necessary.