Hungary real-time invoice reporting
From 1 July 2018 Hungary will introduce real-time, electronic reporting of domestic B2B sales invoice data. The anti-VAT fraud reporting measure applies to all VAT registered businesses, resident or foreign, on invoices with a VAT element of HUF 100,000 (approximately €320) or more. The new live reporting will replace the existing domestic sales ledger listing, which is filed monthly with the VAT return.
Join Adam Alonso as he discusses the new Hungarian live reporting requirements as well a brief look at how European countries are increasingly demanding detailed electronic VAT transactional reporting from businesses to help them efficiently track tax due and reduce significant tax evasion.