Hungary live reporting update Apr 2020
- Sep 27, 2019 | Richard Asquith
Hungary is to update the requirements on its live VAT invoice reporting regime from April 2020. The changes affect invoice details and submission requirements.
Hungary introduced live invoice reporting in July 2018, covering B2B domestic reporting on invoices about HUF100,000. This requires tax payers to submit electronic invoice details to the tax office in batches within a day of the creation and posting of the invoice. There is no pre-issuance invoice clearance (as in Italy’s SdI) required.
Invoice changes include: changes to invoice issuance and number changes; changes to credit and debit note numbering formats; inclusion of delivery date for goods; and requirements for calculation of VAT liabilities in Hungarian Forint at the line level, including VAT rate used.
The submission requirement changes include: an updated API; details of invoicing software used; and updated API encryption signature.
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