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Hungary live reporting 1 month on

  • EU VAT
  • 07 September 2018 | Richard Asquith

Hungary live reporting 1 month on

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Hungary has therefore now withdrawn its soft launch from 31 August, and will begin to impose penalties on any undeclared invoices.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  • The existing domestic sales listing will be withdrawn.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.
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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 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.