Penalties waived on new Hungarian real time reporting until March 2021
As a COVID-19 simplification, Hungary will not apply penalties on Real Time Reporting obligation during the first three months of 2021.
Due to Covid-19, a grace period will be granted on the new version of Hungarian RTR until 31 March 2021. This means that taxpayers are still required to submit the new XML with the extended scope of obligations, however, no penalties will apply for not meeting this obligation until 31 March 20201.
During the first three months of 2021, Hungarian VAT registered companies will still be allowed to submit the old v2 XML file, although the new v3 schema will be available also. After 1 April 2021, all businesses must submit the latest XML file as published by the Hungarian tax authorities.
Read more about the extended obligations in this article
Marosa's solution for Hungarian real-time reporting
Marosa is currently working on our solution to comply with the latest v3 XML requirements of the Hungarian tax authority. This solution allows businesses to connect to our software via an API endpoint and send simple CSV files with the invoice data to be reported to the Hungarian tax authorities. Our software will then integrate with the Hungarian tax authorities database and send the files using our Hungarian digital certificate.
Our software also allows manual submission of Excel files to those who need additional time to set up their ERP system to send their CSV files. This solution does not require major set-up work in your system and allows foreign businesses registered for VAT in Hungary to comply with the new rules.