Hungary live invoice reporting July 2017
- Jan 1, 2017 | Richard Asquith
From 1 July 2017, all Hungarian VAT registered businesses will be required to electronically live report all B2B sales invoices with VAT above HUF100,000. Hungarian VAT is currently 27%, so the net value of the invoices effected will be HUF370,000.
Businesses will receive in return from the tax authorities a unique invoice number in a digital seal that they must include on the invoice prior to issuance to their customers.
The maximum fine for failing to comply with the new rules will be up to HUF500,000 per invoice.
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