REMINDER: Hungary to introduce real time VAT invoice reporting

6 June 2018

A reminder that from 1 July 2018, the Hungarian tax authorities will introduce a new real time invoice-reporting regime, which will affect all VAT registered businesses in Hungary.

When introduced the regime will apply to all business to business (B2B) sales transactions made in Hungary with a VAT amount above HUF 100,000 (approx.€320). All businesses undertaking these types of transactions will be expected to declare the invoices to the Hungarian tax authorities at the same time as they are issued to the business customer.