Introduction of M2M EVAT Platform for VAT Declarations in Hungary

• The Hungarian government is implementing additional instruments in electronic invoicing for taxpayers and tax authorities starting from January 2024.
• A new platform called M2M eVAT will be introduced, allowing taxpayers to prepare and submit VAT declarations electronically.
• The platform will be managed by the tax administration and will apply to residents and non-resident companies conducting transactions in Hungary.
• The eVAT M2M solution aims to reduce administrative burdens, decrease tax controls and inquiries, and improve the fight against tax fraud and VAT recovery.
• The eVAT system will replace the existing monthly “M-forms” for domestic sales and purchases in Hungary.

Source: asd-int.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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