Hungary introduced its online invoice reporting system on July 1, 2018 for invoices issued to another Hungarian taxpayer with a VAT amount reaching or exceeding HUF 100,000. More than a year has elapsed so it is worth taking a look at what the experiences with the system have been and what developments will follow next year based on the practical feedback from taxpayers and the Hungarian tax authority (NAV). In our article, we will focus on this IT
development which aims to reduce the VAT gap in Hungary and detect VAT fraud (needless to say, the 27% VAT rate is a temptation for fraudsters).
Source WTS
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