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  • Hungarian real-time invoice reporting as from July 2018

    Online invoice reporting in Hungary mandatory in July 2018  On 1 July 2018 comes into force the Hungarian real-time invoice reporting obligation. The new obligation will require that any taxpayer registered for VAT purposes in Hungary, issuing an invoice with a VAT amount greater than or equal to report the invoice data automatically, electronically, immediately and without human intervention to the Hungarian tax authority. Not complying with this obligation will carry a fixed penalty of up to HUF 500,00 (EUR...
    • By Marosa VAT
    • Published 14/03/2018 13:14
  • Hungary extends the Food Chain Supervision Fee (FCSF) to foreign businesses registered for VAT

    What is the Food Chain Supervision Fee? Hungary extended the scope of the food chain supervision fee (FCSF) to foreign businesses registered for VAT in Hungary. Previously only domestic companies were obliged to pay FCSF. The food chain supervision fee (FCSF) is a tax on the food supply chain activities (please refer to the list below for the exact scope). FCSF rate is 0,1 % and it is levied on the net sales revenue derived from such activity. Previously foreign...
    • By Marosa VAT
    • Published 08/09/2017 18:52
  • More information on real-time reporting in Hungary

    Last 1 July the Hungarian authorities published more information about the new real-time reporting requirement to be introduced as from 1 July 2018. This obligation was recently postponed for 12 months to allow businesses more time to adapt their ERP system. What is real-time reporting? As from July next year, all invoices will need to be reported within 24 hours from the moment they are issued. It is not required to receive pre-approval from the tax authorities to issue the...
    • By Marosa VAT
    • Published 28/07/2017 13:41
  • Hungarian real-time reporting postponed

    Hungary postpones real-time reporting Real-time reporting in Hungary was postponed, the date in which the system will enter into force changes 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 of the real-time reporting in Hungary, companies will need to send each invoice for approval of the tax authorities before it is sent...
    • By Marosa VAT
    • Published 29/05/2017 15:17
  • Hungarian real-time invoice pre-approval

    Real-time invoice reporting required 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. Which transactions are most affected? The sales subject to this requirement are...
    • By Marosa VAT
    • Published 29/01/2017 16:19