Anyone who deals with Hungarian tax or commercial issues is probably aware of the Hungarian online invoice reporting obligation and the administrative and IT obstacles that come with it. The online invoice data reporting system moved to the next level on 1 January 2021, extending this obligation to almost all sales invoices issued by Hungarian taxpayers, practically meaning that most invoices issued have to be reported from this date. Based onour experience, the Hungarian Tax Authorities use the data fed into the system and crosscheck them with VAT reports submitted by the invoice recipients.
An interesting topic in this regard is the online reporting of self-billing, which can be an even bigger deal if two Hungarian entities are involved in the self-billing structure, taking into consideration that the parties have joint and several liability according to Hungarian VAT law regarding invoice issuance as well as online invoice reporting.
As online invoice reporting has been part of our lives for some time, usually Hungarian companies’ invoicing systems are provided with online invoice reporting features. This means that adding a solution that deals with the online reporting of self-billing does not require a huge effort from the Hungarian taxpayers. The question arises about how self-billing transactions should be treated from an online reporting perspective if a non-Hungarian party is involved.
Source WTS
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