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...
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Péter Kóczé, RSM Hungary, Head of Digital Solutions
Péter Kóczé

Hungarian online invoice reporting system meeting expectations but needing correction

The first result figures of the six months since the launch of the online invoice reporting system confirm that the real-time invoice data reporting service met expectations in terms of improving the efficiency of VAT collection. The Hungarian tax authority is able to identify fraudulent businesses almost immediately and in an automated manner relying on the data submitted through the solutions provided by the companies obliged to report data and their service providers.

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Gábor Fajcsák, RSM Hungary, Tax Manager, Qualified International and Value Added Tax Expert
Gábor Fajcsák

Who should choose group taxation?

Based on the adopted tax laws for the coming year, Hungary will join a number of European countries with a modern tax system, where group taxation is also available with regard to direct taxes, in addition to the VAT. From the 2019 tax year, it will be possible also in Hungary to choose group corporate taxation, which can be notified to the Tax Authority in the first two weeks of January. Let us see who should choose this and what aspects should be considered in the next two months?

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