- Regulatory Framework and Real-Time Reporting: Hungary’s e-invoicing regulations are grounded in the Act CXXVII of 2007 on Value Added Tax, allowing electronic invoices and mandating real-time invoice reporting (RTIR) since July 1, 2018. This requirement obligates businesses to report invoice data immediately to the National Tax and Customs Administration (NAV) without human intervention, applicable to all B2B and B2C transactions from January 2021.
- Centralized Online Invoicing System: The NAV operates a centralized platform, the NAV Online Invoicing System, which facilitates real-time reporting of invoices. All economic operators are required to use this system, enabling the submission of invoices in XML format and ensuring compliance with the European standard on e-invoicing.
- Impact on VAT Compliance and Administration: The implementation of e-invoicing aims to reduce Hungary’s VAT gap and improve tax collection efficiency. By automating reporting processes and allowing the tax authority to propose draft VAT returns based on submitted data, the regulations are designed to streamline compliance and enhance the accuracy of tax administration.
Source ec.europa.eu
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
