In several steps during this and next year, Hungary will be tightening up its regulations for the duty to report electronic invoices in real time.
We’ve created a concise summary of the upcoming changes below:
- As of April 1st, 2020, those liable for tax in Hungary are required to use the new version 2.0 of the reporting system. This includes changes in the XML for invoice data and the server communication, as well as gathering even more precise details than was already the case.
- Coming into effect on July, 1st 2020, all companies concerned will be obliged to register all invoices issued to persons who are taxable in Hungary via the reporting interface. The previous minimum threshold of 100,000 forint (equating to approx. €300) in value added tax (VAT) will no longer apply. Moreover, certain transactions that are exempt from VAT will also have to be registered.
- Finally, from January 1st, 2021 companies liable for tax in Hungary will also be required to register invoices sent to private persons and those made out to nearly all non-taxable persons. What’s more, from the same date mandatory registration will apply to all invoices issued to companies both inside and outside of the European Union.
Those with a deeper interest in this topic can find a more detailed explanation (also in English) at https://onlineszamla.nav.gov.hu/home.
The stated objective of the new measures is to push back the black market economy and curb tax evasion – not the first time this issue has been addressed.
Retarus’ Business Integration Services enable companies to set up the new, more complex connection in quick time. We not only support the more detailed XML Wrapper format, but even offer the option of validating your data in advance, should it be required. This reduces the efforts and cost required for correction runs perceptibly. Should you be interested in finding out more, please get in touch with your local Retarus representative.