Hungary invoice software obligations

New obligations on VAT invoice software come into effect in Hungary from 1 January 2016.

The new requirements, based around Standard Audit File for Tax (SAF-T) which has been developed by the Organisation for Economic Co-operation and Development to encourage standard electronic filing and audits to tax authorities. The new details include the correct formatting of data on customer addresses

Hungarian VAT registered companies must notify the local tax authorities of which authorized accounting software they use to produce VAT-compliant invoices. At present, Microsoft Word and Excel are not permitted.