Hungary proposes to scrap real time VAT invoice reporting threshold

24 December 2019

Hungary has proposed the withdrawal of the threshold to report invoices under their real-time invoice-reporting regime. 

Currently, all businesses involved in business to business (B2B) sales transactions made in Hungary, with a VAT amount above HUF 100,000 (approx.€320), have to declare their invoices to the Hungarian tax authorities at the same time as they are issued to their business customers.  

If this proposal is accepted, then the threshold will be discontinued and all B2B invoices will have to be reported on a real-time basis, regardless of value.

If accepted, this will apply to resident businesses from 1 July 2020 and to non-resident businesses from 1 July 2021.

LATEST NEWS

Portugal to introduce e-invoice serial numbers from...

From January 2021, the Portuguese tax office has confirmed that specific serial numbers issued by them will need to be shown on all taxpayers’ sales...

SEE MORE
LATEST NEWS

Ecuador to apply VAT on digital services from...

From 16 September 2020, Ecuador will impose VAT at 12% on the sale of e-services to local consumers by non-resident businesses.  At present, non-resident...

SEE MORE
LATEST NEWS

Indonesia confirms VAT on foreign e-commerce from 1...

From 1 September 2020, the Indonesian tax authorities will introduce VAT at 10% on all e-services transactions made by non-resident companies. Currently...

SEE MORE

Gated Content

The following email providers are not accepted: gmail, hotmail, yahoo. Please use proper company email.