News

New Regnology ESEF Client: ANY Security Printing Company Plc.

May, 2024

We are pleased to welcome ANY Security Printing Company Plc. as a new user of our Regnology ESEF service. This collaboration strengthens our commitment to innovation in financial reporting.

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New clients

February, 2024

We are pleased to announce that our Invoke ESEF service is now being used by AKKO Invest Plc., Amixa Holding Plc., MBH Bank Plc., and the Hungarian Export-Import Bank Plc. In addition, we are participating in the preparation of the Budapest Stock Exchange Plc.'s ESEF-based individual report, which further strengthens our role and expertise in financial reporting.

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Introducing Taxatron, the eVAT software.

February, 2024
On the first day of 2024, the National Tax and Customs Administration (NAV) launched the electronic VAT system (eVAT), which supports the electronic and accurate fulfillment of VAT obligations related to VAT declarations. The Taxatron, a joint development by Andersen and Ramasoft released in January, provides a reliable solution for preparing eVAT declarations and submitting them through machine-to-machine (M2M) connections.
 
Choice of filing options
From January 1, with the introduction of the eVAT system, taxpayers were essentially offered a choice of competing filing options. Companies can now submit their VAT declarations in three ways – expectedly on a temporary basis:
 
  1. In the usual way, using the ÁNYK (General Form Filler),
  2. By accepting the proposal prepared by the tax authority via a web interface, or
  3. Through machine-to-machine (M2M) connections (by linking enterprise resource planning systems with the NAV system).
 
Taxatron, a joint development by Andersen and Ramasoft, provides a solution for this latter option.
 
Faster and more detailed data provision
The pace of digitization in the Hungarian tax system and the direction of developments suggest that companies will need to provide faster and much more detailed, itemized data provision to NAV in the future. Traditional methods and technical solutions may not necessarily address this challenge, as the enterprise resource planning (ERP) systems used by larger companies are not prepared for the level of detail and structure required by the tax authority. This requires either expensive system development or the integration of a purpose-built software compatible with the ERP that supports the preparation of declarations, establishes a connection with the tax authority's system, and manages communication.
 
The Taxatron is a system that meets these needs.
Shorter filing time
Filing through an M2M connection offers a particularly advantageous solution for medium and large enterprises, where assembling and submitting VAT declarations is a cumbersome process. The system's introduction represents a cost-saving from day one by reducing the time spent preparing declarations.
 
The Taxatron helps realize this saving opportunity.
 
eVAT declaration, lower risk
Preliminary checks of itemized records can filter out errors before the declaration is submitted, which previously only became apparent during post-filing tax audits, often resulting in fines.
 
The Taxatron helps reduce the risk of tax audits and fines.
 
More reasons to choose Taxatron
  • Built-in validations significantly reduce audit risk, and the pre-prepared analytics cannot be re-requested by NAV.
  • No more hassle with preparing the so-called M forms.
  • Supplementary data uploading services provided by the tax authority are also exploitable with Taxatron.
  • Taxpayers who choose the M2M filing method and correct errors within 15 days through a self-audit procedure after submission do not have to pay a self-assessment penalty.
  • Reliable taxpayers who opt for M2M VAT filing cannot receive a tax audit for 15 days, allowing them to conduct self-audits without risk and interruption.
 
This is the future form of fax filing
Besides making the VAT filing process faster, safer, and more accurate for companies through eVAT, the significance of the development lies in the expectation that within a few years, all types of corporate taxes, including corporate tax or local business tax, will have to be declared in this manner. The system operates based on the SAF-T (Standard Audit File for Tax) standard developed by the OECD, which describes the provision and transfer of digitalized accounting data related to taxation in an XML data format. eVAT is the first domestic application of this modern tax filing technology, already introduced in several European countries for years.
 
The Taxatron is a tool that allows taxpayers to already take advantage of the new system's benefits.
 
Tax Advisory Support
Transitioning to the M2M eVAT system is a complex task. Initially, it must be harmonized with the unique characteristics of a company's ERP system, the necessary data sources must be thoroughly assessed, related data flow processes need to be developed or restructured, and corporate and standard tax codes have to be matched, which cannot be done without tax advisory support. Accordingly, successful implementation of the Taxatron requires time and comprehensive testing.
 
If you have questions about the operation of the M2M eVAT and the implementation of Taxatron, Andersen's tax advisors are at your service.
 
For more details:

taxatron.hu

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Stock Exchange Museum in the media

February, 2024

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We launched and introduced our new portal, the Stock Exchange Museum, to the domestic media two weeks ago. We are proud that our initiative has attracted the interest of several significant press organs.

Among others, MTI, Economx.hu, Telex.hu, and the online version of Világgazdaság reported on our press conference. We were pleased to accept the invitation from Jazzy Business Class, as well as the requests from Millásreggeli and the Médiaworks Radio News Center.

The highlighted media attention signals to us that it was worth starting our gap-filling project, and it will be worth continuing as well.

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Ramasoft pioneering initiative: Grand presentation of the Stock exchange museum's economic history portal at the Festetics palace

January, 2024

Ramasoft Data Services and IT Plc.'s latest and extraordinary project, the Stock Exchange Museum's economic history portal, was presented on January 18, 2024, at the Festetics palace, within the framework of the Stock exchange museum conference. The event coincided with the 160th anniversary of the establishment of the Budapest Commodity and Stock Exchange, and fittingly paid tribute to Hungarian economic history.

Ramasoft, renowned in the field of banking and stock exchange software development, introduced itself in a new area with this initiative. The project was led by Dr. Márton Radnai, the company's founding owner, and was realized in three phases. In the first phase, stock price and dividend data were processed, in the second phase the databases were uploaded to the portal, and in the third phase, the history of the top 100 stock exchange companies and their leaders was compiled.

The Stock exchange museum portal not only reveals the history of stock exchange companies and the life paths of their leaders but also analyzes the returns of Hungarian stocks. According to the data, between 1864 and 1913, Hungarian stocks achieved an average annual return of 8.41 percent, which is outstanding in international comparison.

Dr. Márton Pelles, the project's research leader, highlighted the challenges of using different currencies in trading, and that the research into the history of the top 100 companies is still ongoing. The Stock exchange museum portal offers an insight into Hungarian economic history and is expected to attract significant interest from both the professional community and the general public. Ramasoft is proud to contribute to the preservation of Hungarian economic heritage and the development of economic awareness in new generations with this project.

For more information, please visit the Stock exchange museum's website.








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Ramasoft at Andersen's professional day

December, 2023
Proudly announcing that Ramasoft played a significant role at the largest professional event in the history organized by Andersen Tax Advisory Ltd., focusing on the 2024 tax changes. Our participation in the event provided an opportunity to directly share our innovative solutions with the interested audience.
 
Among the changes outlined by Andersen, the introduction of the eVAT system received special attention at Ramasoft. During the event, we not only gained insights into the changes but also presented the developments and solutions through which Ramasoft assists its clients in handling the new challenges.
 
Our featured speaker at the event, Márton Radnai, CEO of Ramasoft Data Provider and Information Technology Ltd., provided a detailed presentation on the practical functioning of Taxatron, Ramasoft's M2M eVAT application. This presentation not only showcased software but also emphasized that Ramasoft offers value to its clients in terms of quick and efficient solutions.
 
Furthermore, the event facilitated closer collaboration with Andersen's key personnel and other expert guests. Through constructive dialogues, Ramasoft remains committed to providing high-quality services and closely collaborating with clients to assist them in navigating changes in the tax environment.

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New clients

July, 2023
The year 2023 has been a very successful one for Ramasoft so far, with four new customers signed.
 
The company prepares consolidated ESEF reports for WINGHOLDING Ltd. and OTP Plc., while it prepares individual ESEF reports for Amixa Holding Ltd. and Eprolius Real Estate Plc.
 
This client expansion creates new opportunities for Ramasoft, further strengthening the company's market position.
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HAPPY 25TH BIRTHDAY RAMASOFT!

December, 2022

This year is particularly important for Ramasoft, as it celebrates its twenty-fifth anniversary this year.

The event was held at a gala dinner on 22 November at the Budapest Marriott Hotel*****.

Among those present, we welcomed current and former colleagues, as well as partners and customers who have been with us for twenty-five years.

Dr. Márton Radnai, CEO, summarized the two and a half decades of the company's history, mentioning the main milestones and future plans.

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BUDAPEST’S TECH JOBS FAIR 2022

October, 2022
 
 
We’re happy to announce that Ramasoft Ltd. is going to participate in Budapest's Tech Jobs Fair 2022 which will be held on 03rd November at the Óbuda University G building, Budapest Tavaszmezo 14-18.
 
This job fair aims to bridge the gap between Jobseekers from the digital & tech industry and hiring companies.
 
For more information about the event, please visit here.
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New partnership

October, 2020

Our company has expanded with another partnership in the person of the french Invoke.

In 2020, listed companies will face a new challenge of ESEF compliance. Following a number of XBRL projects this year, we have decided to provide assistance to not only financial institutions but also listed companies to convert their reports to the iXBRL format. The preparation of reports in the format and content required by the Directive 2004/109 / EU (the so-called Transparency Directve) and Regulation 2018/815 / EU (the so-called ESEF RTS) is a complex task, so we looked for a highly experienced market player and we have chosen Invoke's solution. In order to disseminate the Invoke ESEF solution in Hungary, the two companies have decided to cooperate: Ramasoft Adatszolgáltató és Informatikai Zrt. distributes the Invoke ESEF solution in Hungary and provides professional (education, consulting, and parameterization) and support (help desk) services to it in Hungarian.

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Are you ready for Basel IV?

May, 2019

We are pleased to share the news with everybody interested in the publication of the second volume of the Handbook of capital adequacy. The new volume summarizes recent changes and provides up-to-date information on current Basel regulations. If you are interested, you will find our book soon in the bookstores. More details can be found here: http://www.ramasoft.hu/publicaciok

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Stress test development for Erste Bank

August, 2018

Last year we started a new project for Erste Bank. Our customer’s request was the development of MNB's stress tests, both in Varitron and Creditron systems. Thanks to the long-lasting hard work the result was born in summer.

 

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