• Hungarian real-time reporting postponed
  • Hungarian real-time reporting postponed


    Hungary postponed the date in which real-time invoice reporting will enter into force from 1 July 2017 to 1 July 2018. This extension gives an additional 12-month period for businesses to adapt their ERP systems to new IT requirements of the Hungarian tax authorities.

    According to the new rules and as explained in our previous article, companies will need to send each invoice for approval of the tax authorities before it is sent to the client. The authorities will respond with an approval code that will be stated on the invoice.

    The threshold for the invoices pre-approval applies only where the VAT amount exceeds HUF 100,000 (circa €350). It is not yet clear if zero rated and exempt supplies will require pre-approval from the tax authorities.

    The IT requirements and technical information around this obligation are not yet available. We expect this information to be published in the coming months. At Marosa we will offer a coordinated solution including tax consultancy and tax technology resources to ensure that your ERP system can send and receive automatic messages from the authorities. We will also make sure that your current finance processes are in line with Hungarian VAT rules. This is important given the new visibility of the Hungarian authorities after 1 July 2018.

     


    Icon home blog ca7b3ba01dfab1e0566929f5563f0e0cf92d499b0f0f8eb0a6391edf690700d7

    News

    Stay on top of all legislative changes in every European country. Our newsletter focuses on compliance practical matters. Subscribe now free of charge.


    Subscribe to our Newsletter


    About

    Icon divider short blue 9e69e640d27b9beed3775081159a67da2696a2522b67794358e861bc9bc7cc97

    Marosa provides a one-stop solution for VAT obligations in all European countries. We assist clients with a single point of contact that speaks their language and handles all VAT related issues with a standard and cost efficient approach.


    Recent articles

    Icon divider short blue 9e69e640d27b9beed3775081159a67da2696a2522b67794358e861bc9bc7cc97


    Tags

    Icon divider short blue 9e69e640d27b9beed3775081159a67da2696a2522b67794358e861bc9bc7cc97

    Austria Archiving Belarus Bulgaria Cyprus Estonia France Germany Greece Hungary Ireland Spain Financial services Belgium VAT rates e-commerce Italy Kosovo Latvia Lithuania Poland Serbia Slovakia Slovenia UK European Union Czech Republic Reverse charge Russia Switzerland Denmark Finland Portugal Norway Sweden Luxembourg The Netherlands Croatia Romania Iceland Malta