28 February 2020
From January 2021, Hungary has confirmed they will extend their real time invoice-reporting regime to cover Business to Consumer (B2C) invoices.
Currently, all businesses involved in Business to Business (B2B) sales made in Hungary, with a Value-Added Tax (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.
From January next year, this process will apply to all invoices and it is hoped that this will go a step further to preventing VAT fraud in the country.
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