As of next Thursday, October 26, 2023, the Independent Public Revenue Authority (AADE) is launching version v1.0.7 to adapt the technical specifications of the platform to the relevant updates of A.1138/2020.
In addition, additional features are provided in the process of characterizing expenses, following the upgrade made on 5/7/2023 with version v1.0.6., in order to facilitate businesses.
With the new version, the process for expenses becomes even simpler and faster, making it easier for business accountants and tax accountants, saving time and reducing management costs even more.
In more detail:
• Calling the method of characterizing expenses from the recipient without restrictions/dependency on the number of lines of the document of the issuer.
• Possibility of characterizing expenses for Other taxes, Stamps and Fees.
• Possibility of spending part of the VAT with category 2.5 – General expenses without the right to VAT deduction.
• In the case of lines of the document where the issuer has declared an exception to article 39a, the recipient can qualify with VAT.
With the new version v1.0.7 and the integration of decisions A.1188/2022 and A.1023/2023, further simplification of the data transmission process is achieved on the myDATA digital platform since the following new functions are available for use:
• Addition of coded text, in addition to the MARK, which can be used by business management programs to create a QR code to review the summary of the document in a digital service of the myDATA platform
• Special marking of documents for complex domestic foreign transactions (e.g. sale or purchase to or from an EU country and delivery or receipt from a Third Country), hotel retail revenues, purchase of agricultural goods with title of ownership and retail tax documents that are passed to ESEND for characterization.
• Special marking, per document, of the TINs of other related entities to indicate the distinct roles in which they participate in the transactions other than the Issuer and the Receiver (eg tax agent, Tax Free intermediary, etc.).
• Data of other means of transport involved in the movement of goods beyond the original one.
• Special labeling of Tax Free documents for their separate management with the inclusion of the passport country and their association with the retail credits issued to complete the VAT refund process for tax free transactions.
• Inclusion of reservations in Document Types 8.1 Rent – income and 17.1 Payroll.
• Inclusion of the Recipient’s TIN in the document identification (UID) of Document Types 13.*, 14.*, 15*, 16*.
• Ability to transfer VAT fees and VAT taxes to Document Types 6.1 and 6.2.
The above additions and improvements are the product of productive discussions with market players which will continue.
#version #platform #faster #simpler #process #expenses
Table of Contents
- 1 Here are some People Also Ask (PAA) related questions for the title **”AADE Launches Version v1.0.7 of myDATA Platform for a Simpler and Faster Expense Characterization Process”**:
- 2 Here are some PAA (People Also Ask) related questions regarding the AADE launch of the new version of the myDATA platform:
AADE Launches Version v1.0.7 of myDATA Platform for a Simpler and Faster Expense Characterization Process
The Independent Public Revenue Authority (AADE) has announced the launch of version v1.0.7 of its myDATA digital platform, effective October 26, 2023. This new version aims to adapt the technical specifications of the platform to the relevant updates of A.1138/2020, making the expense characterization process even simpler and faster for businesses.
Enhanced Features for Expense Characterization
The new version v1.0.7 builds upon the upgrade made on July 5, 2023, with version v1.0.6, which introduced additional features to facilitate businesses. With this latest update, the process of characterizing expenses becomes even more streamlined, saving time and reducing management costs for business accountants and tax accountants.
Some of the key features introduced in version v1.0.7 include:
Calling the method of characterizing expenses from the recipient without restrictions/dependency on the number of lines of the document of the issuer.
Possibility of characterizing expenses for Other taxes, Stamps, and Fees.
Possibility of spending part of the VAT with category 2.5 – General expenses without the right to VAT deduction.
In the case of lines of the document where the issuer has declared an exception to article 39a, the recipient can qualify with VAT.
Integration of Decisions A.1188/2022 and A.1023/2023
The new version v1.0.7 also integrates decisions A.1188/2022 and A.1023/2023, further simplifying the data transmission process on the myDATA digital platform. This integration introduces several new functions, including:
Addition of coded text, in addition to the MARK, which can be used by business management programs to create a QR code to review the summary of the document in a digital service of the myDATA platform [[2]].
Special marking of documents for complex domestic foreign transactions, hotel retail revenues, purchase of agricultural goods with title of ownership, and retail tax documents that are passed to ESEND for characterization.
Special marking, per document, of the TINs of other related entities to indicate the distinct roles in which they participate in the transactions other than the Issuer and the Receiver (e.g., tax agent, Tax-Free intermediary, etc.) [[3]].
Data of other means of transport involved in the movement of goods beyond the original one.
* Special labeling of Tax-Free documents for their separate management with the myDATA platform.
myDATA Digital Platform: A Comprehensive Solution for Businesses
myDATA is an electronic platform introduced by AADE to simplify the daily lives of businesses. It enables businesses to maintain electronic books, transmit data to AADE, and receive digital invoices [[1]]. The platform also provides a range of features, including real-time data validation, automatic document archiving, and secure data transmission.
the launch of version v1.0.7 of the myDATA digital platform marks a significant step forward in simplifying the expense characterization process for businesses. With its enhanced features and integration of recent decisions, myDATA is an essential tool for businesses looking to streamline their accounting and tax processes.
References:
AADE Launches New Version of myDATA Platform: Faster and Simpler Expense Process
The Independent Public Revenue Authority (AADE) is set to launch version v1.0.7 of its electronic platform, myDATA, on October 26, 2023. This new version aims to adapt the technical specifications of the platform to the relevant updates of A.1138/2020, making the process of characterizing expenses even simpler and faster for businesses.
Faster and More Efficient Expense Process
The new version of myDATA provides additional features that facilitate the expense process, following the upgrade made on July 5, 2023, with version v1.0.6. These features include:
Calling the method of characterizing expenses from the recipient without restrictions/dependency on the number of lines of the document of the issuer.
Possibility of characterizing expenses for Other taxes, Stamps, and Fees.
Possibility of spending part of the VAT with category 2.5 – General expenses without the right to VAT deduction.
In the case of lines of the document where the issuer has declared an exception to article 39a, the recipient can qualify with VAT.
Enhanced Features for Businesses
The new version v1.0.7 of myDATA integrates decisions A.1188/2022 and A.1023/2023, further simplifying the data transmission process. The platform now offers the following new functions:
Addition of coded text, in addition to the MARK, which can be used by business management programs to create a QR code to review the summary of the document in a digital service of the myDATA platform [[2]].
Special marking of documents for complex domestic foreign transactions, hotel retail revenues, purchase of agricultural goods with title of ownership, and retail tax documents that are passed to ESEND for characterization.
Special marking, per document, of the TINs of other related entities to indicate the distinct roles in which they participate in the transactions other than the Issuer and the Receiver.
Data of other means of transport involved in the movement of goods beyond the original one.
* Special labeling of Tax Free documents for their separate management with the inclusion of the passport country and their association with the retail credits issued to complete the VAT refund process for tax-free transactions.
Benefits for Business Accountants and Tax Accountants
The new version of myDATA is designed to make it easier for business accountants and tax accountants to manage expenses, saving time and reducing management costs. The platform provides a more efficient and simplified process for characterizing expenses, making it easier to comply with tax regulations.
myDATA Platform Presentation
myDATA is the new electronic platform by which the Independent Public Revenue Authority (AADE) introduces electronic books into the daily lives of taxpayers and businesses [[2]]. The platform aims to simplify the process of submitting tax returns and declarations, making it easier for businesses to comply with tax regulations.
Accessing myDATA
Businesses can access the myDATA platform through the AADE website [[3]]. The platform provides a user-friendly interface for submitting tax returns and declarations, making it easier to manage expenses and comply with tax regulations.
the new version v1.0.7 of myDATA is a significant step forward in simplifying the process of characterizing expenses and making it easier for businesses to comply with tax regulations. The enhanced features and functions of the platform will benefit business accountants and tax accountants, saving time and reducing management costs.
