Hungary has dropped plans to require live invoice reporting until July 2018.
The requirement had been for the submission of XML-based details of invoices with sales VAT above HUF100,000 (about €300). The plan had been for the tax authorities to then provide an individual invoice ID number for use with the invoice. This will be withdrawn; instead tax registered businesses will be required to report the issuance of qualifying invoices within 24 hours.
The 1-year delay is to allow for further development of requirements and IT systems.
Latest Hungarian news
Hungary VAT registration threshold HUF 12m Jan 2019
October 17, 2018
Hungary has received permission to introduce an VAT registration threshold for businesses of HUF 12 million from 1 January 2019. This is approximately €48,000, based...
Hungary has received permission to introduce an VAT registration threshold for businesses of HUF 12 million from 1 January 2019. This is approximately €48,000, based...
Hungary live reporting 1 month on
September 7, 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...
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...
Hungary VAT changes
July 18, 2018
Hungary has proposed a range of VAT changes for January 2019, including: Single-purpose vouchers where the underlying taxable supply can be determined must be taxed...
Hungary has proposed a range of VAT changes for January 2019, including: Single-purpose vouchers where the underlying taxable supply can be determined must be taxed...
VP Global Indirect Tax
Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.