Hungary scraps live reporting invoice threshold
- Nov 22, 2019 | Richard Asquith
Hungary has proposed withdrawing the HUF100,000 (€310) invoice threshold on its live VAT invoice live reporting regime. The measure is scheduled for 1 July 2020.
The draft legislation also proposes that non-residents will enjoy the threshold for an extra year, to 1 July 2021.
Since July 2018 Hungary has imposed real-time, electronic reporting of domestic B2B sales invoice data. The anti-VAT fraud reporting measure applies to all VAT registered businesses on invoices with a VAT element of HUF 100,000 (approximately €320) or more. The new live reporting replaced the existing domestic sales ledger listing, which is filed monthly with the VAT return.