2021 brings significant eVAT developments in Hungary as an indication of the Hungarian tax administration being a pioneer in innovative tax administration measures.
As of January 2021, to better track business transactions and enhance VAT collection, Hungary introduced a widespread real-time invoice reporting obligation for Hungarian taxpayers. The new rules are controversial because they put an administrative burden on non-Hungarian web stores performing business-to-consumer (B2C) sales to Hungary by threatening them with a penalty starting from 1 April 2021. As another unique development in the region, the Hungarian tax administration will prepare draft VAT returns for Hungarian taxpayers from 1 July 2021.
Source Baker & McKenzie
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