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.
Find out more about VAT in Hungary