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EÁFA (eVAT) M2M – What Needs to be Done Before the Introduction of the Electronic VAT System in 2024?

In 2024, the Tax Authority of Hungary (NAV) will make an innovative step in the field of VAT declarations with the introduction of eÁFA (or eVAT),which will base declarations on data instead of the previously accustomed aggregated data. In order to simplify their VAT declarations and reduce administrative burdens with the help of eVAT M2M, companies must undertake several important steps.

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Important changes planned by the Hungarian Tax Authority

Ever since the launch of the Online Invoice System, the Hungarian Tax Authority has been implementing both minor and major changes to the platform from time to time. Most recently, a change affecting a large number of businesses was announced by the Tax Authority in January, which was originally planned to go live on 15 May. However, according to the most recent news from the Hungarian Tax Authority, the go-live of the change has been postponed until 18 September. This means that companies that have failed to prepare for the changes involving corrective and cancellation invoices have nearly four more months to get ready

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Hungarian Tax Authority's VAT return offers postponed

Instead of the originally planned target date of 12 November, the offering of Hungarian Tax Authority\'s VAT return drafts is to be postponed until the end of the state of emergency, i.e. until 1 January 2022 for certain. It seems that more time is necessary for the finalization of developments and the launch of the system after all.

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Webshops and Hungarian real-time invoice reporting in 2021

From 4 January 2021, the online invoice reporting will extend to almost all invoices issued by domestic companies, including the sales of webshops. According to the latest announcement of the Hungarian Tax Authority, foreign webshops exempted from providing real-time invoice data in case of their sales in Hungary.

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Change in VAT-returns from 20 February!

A substantial change was introduced from 1 January 2021 in the recapitulative statements (M-sheet) to be submitted as part of the VAT return. The change concerns all taxable persons receiving final invoices from domestic partners, which were preceded by an advance invoice and are subject to the reporting obligation.

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