NAV cash registers against black economy

Matolcsy György would reduce the black and grey economy by third at domestic retail, hospitality and at services, where cash registers are in operation. According to the idea of ​​the Minister for National Economy announced on Friday, they would install an “online tool” in every domestic (400 thousand) cash machines which would be directly linked to the servers of the National Tax and Customs Administration (NAV).

According to Matolcsy György Minister for National Economy, with this step, 95 billion additional VAT revenue would flow into the budget, and  roughly 500 billion HUF turnover would be whitened. The three service sectors cover an about 10 thousand billion HUF annual turnover. It is estimated that 10-15 percent of this amount is tax avoidance. (Népszabadság Online)