From 1 July 2018, all VAT-registered companies in Hungary are required to report their sales invoice data to the local tax authority in real-time. The reporting will be carried out automatically, via the Hungarian tax authority’s online invoicing portal.
Data of sales invoices with a VAT amount of HUF 100,000 (approximately €340) or more, issued between domestic VAT-registered companies should be disclosed in a pre-defined format. Invoices issued with invoicing software should be reported automatically without delay, while data from paper-based invoices should be manually uploaded to the tax authority’s invoicing portal (within one to five days, depending on VAT amount charged). To eliminate the number of manual invoices, a free online invoicing tool is set to be developed by the tax authority.
Source: TMF
Earlier news: Avalara and VAT International and IVA
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