All you want to know about Real Time Reporting in Hungary

• As of when: July 1, 2020
  • As of April 1, 2021, also for B2C transactions
• What
  • Real-time data reporting is to be applied for VAT on outgoing invoices.
  • There is no threshold
• When to be reported
  • For pre-printed invoices exceeding HUF 500,000, the pre-printed invoice has to be reported at the latest on the day following the invoicing date
  • If not exceeding HUF 500,000, the reporting deadline is 4 days,
• Impact self-billing
  • If a non-Hungarian taxable person not VAT registered for VAT in Hungary is issuing invoices on behalf of its Hungarian supplier based on a self-billing agreement, foreign suppliers may perform the data reporting obligation by relying on third party invoicing software.
  • Reporting to be done within 6 days from the invoice date.
• Other
  • In case of commissionaire arrangements or intermediated services, the taxable person is required to indicate that the transaction is subject to these rules and declare if the transaction is subject to the reverse charge mechanism.
  • The taxable person is also required to declare that a transaction is outside of the territorial scope of the LVAT. ,

Links:

• Online platform tax authorities (available in Hungarian, English, German)
• Technical Requirements (available in Hungarian, English, German)

For all other newsitems to Real Time Reporting in Hungary, click HERE

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