Summary 171 posts

Online invoice data reporting – handling of special items

Real time invoice data reporting sets out explicit rules on the tasks related to invoices compliant with basic criteria. The legal regulation also provides guidelines on what to do in cases when the original invoice is not included in the set of data required to be reported, but due to its “afterlife”, it nevertheless generates a reporting obligation.

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Invoice data reporting – Data reporting and error handling process

The technical documentation on real-time invoice data reporting is already available on the webpage of the tax authority. From the description it turns out – if it has not been clear so far - that financial, taxation-related, and IT competencies are required for solving the new task of companies, all throughout the process.

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Online invoice data reporting – data content

Data reporting must be carried out automatically from the invoicing software, without any human intervention. In case of an operational failure, the data content of missed invoices must be forwarded electronically to the state tax and customs authority by the taxable person within 24 hours of elimination of such operational failure.

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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.

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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.

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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.

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Helga Kiss, Senior tax advisor, RSM Hungary
Helga Kiss

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