The Ministry of Finance has extended a “grace period” until 30 June 2021 regarding the real-time reporting obligation for certain “self-billing invoices.”
These measures have value added tax (VAT) implications.
With the grace period extension, no penalty will be imposed for non-reporting or late reporting during this period, assuming that:
- The purchasing company issues the invoice in the name of the supplier (self-billing) in accordance with their agreement, and
- The customer does not and is not required to have a Hungarian VAT identification number.
Source KPMG
Latest Posts in "Hungary"
- Hungary Considers VAT Cut on Fresh Produce to Boost Sustainable Food Affordability
- Hungary’s eVAT Transition: Mandatory Digital VAT Filing by 2027
- Hungary to Switch to Digital eVAT Filing in 2027
- Hungary VAT Guide: Rates, EKAER and Real-Time Invoice Reporting
- Hungary’s eVAT Transition: Mandatory Digital VAT Reporting Begins in 2027
