Hungary live reporting 1 month on

Fri 7th Sep 2018

Hungary has declared the 1 July launch of its new live VAT invoice reporting regime a success. Over 250,000 tax payers have now started submitting their real-time issued invoices to the tax authorities – in reality, this may be on a batch-process each day.

Hungary has therefore now withdrawn its soft launch from 31 August, and will begin to impose penalties on any undeclared invoices. However, there may be exceptions for some time where companies have acted in good faith.

Scope of Hungarian real-time invoice requirements

  • Applies to all Hungarian VAT registered businesses, resident and foreign
  • B2B Sales invoices with an invoice element above HUF100,000 (approximately €320) are subject to inclusion
  • Exports, EU dispatches, domestic reverse charge and B2C transactions are excluded from the requirement to report
  • Invoice data to be transmitted is based on the requirements of the Hungarian VAT Act
  • Penalties for late or missed submissions will be up to HUF 500,000 (approximately €1,600) per invoice
  • The existing domestic sales listing will be withdrawn. This is filed monthly with the VAT return. However, the domestic purchase listing will still be required to be submitted.

Click for free Hungarian VAT info