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...Read more
In a similar announcement to that made in Spain last month , the Hungarian tax authorities recently published that they will require real-time invoice reporting from all VAT registered businesses.
The Hungarian electronic invoice reporting will consist on a pre-approval of the invoice made by the authorities, who will respond to the electronic query providing an invoice number that must be stated on the document.
The sales subject to this requirement are B2B sales with a VAT amount above HUF 100,000. The equivalent of this limit is €320, which is a low threshold for most foreign VAT registered companies....Read more
The Hungarian tax authorities have changed the definition of qualified vehicle requiring the submission of EKAER returns to include vehicles weighting more the 3.5 tons. This change should increase the scope of the new return and reduce artificial avoidance schemes of this obligation.
EKAER is a new reporting obligation introduced in Hungary in 2015. This return requires all registered taxpayers to report granular information about all movement of goods into or within Hungary. The information required includes license plates of the trailer transporting the goods, origin and destination address,...Read more
Following the changes announced on ERP and invoicing software requirements in Hungary , the Hungarian government recently announced that businesses issuing invoices using an invoicing software will be required to provide real time data regarding these invoices. The real time data provision will have to include all transactions in which another business with a Hungarian tax number is involved and the invoice includes at least 100,000 HUF VAT.
The new real time data providing requirement will be introduced in two steps. As the first step from the 1 January 2017 (as a test phase) it will be optional to provide...Read more
Parallel to the changes in the obligation to provide a summary statement, the requirements regarding invoicing software will also change according to the new government proposal.
As you may know from 2014 businesses issuing invoices from their Hungarian VAT number are required to inform the authorities about the invoicing software they use. The invoicing software used must comply with strict requirements such as sequential numbering of the invoices, etc. Failure to use the appropriate software and failure to report it results in administrative penalty of up to EUR 1,700. Examples of inappropriate...Read more
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