Tax – Blog | RSM Hungary

2018.01.31Digital Tax

Real-time invoice data reporting – To everyone, about each invoice?

The draft decree of the Ministry for National Economy published recently confirms that the real-time reporting of invoices to Hungarian Tax Authority is to be launched as of 01 July 2018. All invoices issued to domestic taxable persons, the VAT content of which is at least HUF 100,000, are subject to data reporting to the Tax Authority. All this in real time and automatically. This obligation is valid only in respect of invoices issued to taxable persons and only for invoices with a VAT content exceeding HUF 100,000 (EUR 320),but let’s see the exact details.

Dániel Sztankó

2018.01.23Tax

Hungarian Real Time Invoice Reporting – what you need to know

As you may know, Hungary plans to introduce real-time invoice reporting obligation from 1 July 2018. Any Hungarian VAT registered entity that issues invoices with a VAT amount above HUF 100,000 (approx. EUR 320) to another entity VAT registered in Hungary will be required to report these invoices “without delay to the Hungarian Tax Authority (HU TA). This includes businesses established outside Hungary but registered for VAT in Hungary. Failure to report the invoices in real time mode may attract an administrative penalty of up to HUF 500,000 (EUR 1700) / invoice.

Gábor Fajcsák

2018.01.18Tax

Review of Tax Changes in 2018

This summary aims to review all amendments to substantive tax laws adopted in 2017 and earlier, affecting the year 2018.

Gábor Fajcsák

2017.12.27Tax

New Laws on the Rules of Taxation

The basic aim of the renewal of the rules of tax administration is for the tax authority to provide a client-focused service and to help taxpayers in the fulfilment of their tax obligations. Instead of a uniform code-like regulation, from 2018 multiple acts will specify the rights and obligations taxpayers and tax authorities have in specific tax matters.

Helga Kiss

2017.12.21Tax

First definite CbC deadline at the end of the year!

There are several points where it is possible to trip up when fulfilling the country-by-country reporting obligation per country. The first deadline is the end of the year for both of the 2016 and 2017 reporting obligations!

Gábor Fajcsák

2017.12.18Tax

This is how your company can assist with a donation and at the same time assert tax relief

As one of the side effects of digital development, it became apparent this year that the total sum of the one percent donations offered for NGOs declined in parallel with the successful introduction of e-personal income tax. However, there was no change in corporate donations and their tax relief, so it is worth considering this before the end of the year!

Dániel Sztankó

2017.12.11Tax VAT

VAT on electronic commerce: New rules adopted

On 5 December 2017, the Council adopted new rules making it easier for online businesses to comply with VAT obligations.

Gábor Fajcsák

2017.12.04Accounting Tax

Cégkapu – Registration of Foreign Managers Clarified

The matter of the registration of foreign managers has become clearer in relation to the use of the company portal “Cégkapu” that companies will be obliged to use from 1 January 2018. It is now clear what tasks have to be fulfilled using the Cégkapu portal and where companies not yet registered or already registered can get more information regarding the operation of the portal.

RSM Hungary

2017.11.27Tax

Attention! 2016 VAT deductible without self-revision until the end of the year only!

The VAT Act maximizes the period during which input tax can be deducted without self-revision in two years. The regulation entered into force in the beginning of 2016 which means that this year-end will be the first turning point in respect of the deductibility of tax.

Dániel Sztankó

2017.10.30Legal Tax

Hungary extends the real-time invoice reporting (RTIR) to paper-based invoices

As you may know Hungary plans to introduce real time invoice reporting obligation from 1 July 2018. Any Hungarian VAT registered entity that issues invoices with a VAT amount above HUF 100,000 (approx. EUR 320) to another entity VAT registered in Hungary will be required to report these invoices “without delay, but within 24 hours at latest” to the Hungarian Tax Authority (HU TA). This includes businesses established outside Hungary but registered for VAT in Hungary. According to the current law draft failure to report the invoices in real time mode may attract administrative penalty of up to HUF 500,000 (EUR 1700) / invoice.

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