Hungary delays live invoice reporting
- May 23, 2017 | Richard Asquith
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 This will be withdrawn; instead tax registered businesses will be required to report the issuance of qualifying invoices within 24 hours.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.
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VP Global Indirect Tax
Richard Asquith
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 won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.