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Hungarian Real Time Invoice Reporting solutions and advisory

Our digital services experts provide digital, automated solutions to support companies' tax reporting obligations, based on our corporate experiences. Hungary plans to introduce real-time invoice reporting obligation from 1 July 2018. Our digital experts can support companies fulfiling this reporting obligation with digital solutions in compliance with Hungarian regulation.

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.  If the company uses a billing software(s),or ERP the obligation to send data without delay is set when the invoice is closed. Reporting of the invoice issued for domestic taxpayers with a VAT amount above HUF 100,00 must be done automatically over the Internet, without human intervention at the point of the closure of the invoice from 1st of July 2018.Failure to report the invoices in real time mode may attract an administrative penalty of up to HUF 500,000 (EUR 1700) / invoice. 

Companies need to ensure the proper technical solution for the automated invoice data reporting.