Summary 47 posts
As the end of the year approaches, it is a priority for every company to check the VAT handling of their issued and received invoices. But why is VAT checking so crucial, and how does modern technology contribute to easier handling of the challenges involved?
Read moreEver 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
Read moreWe\'re getting used to a bunch of IT terms associated with the Hungarian Tax Authority’s innovations: after XML, eVAT and github, M2M is the new buzzword.
Read moreAccording to the recently published tax audit plan of the Hungarian Tax Authority, risk analyses based on data from the Online Invoice System will be in focus this year.
Read moreInstead 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.
Read moreFrom October, the Hungarian Tax Authority sends letters to the taxpayers reporting online invoice data erroneously. The warning should be taken seriously as the VAT return proposals will also be based on this data.
Read moreThere are only a few weeks left and we are going to enter a new age of taxation as of April 2021 in Hungary! Thanks to the Hungarian Tax Authority\'s online invoice reporting system, a new e-invoicing opportunity will open up for a wide range of taxpayers.
Read moreFrom 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.
Read moreA 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.
Read moreFrom January 2021, the scope of invoices concerned by online invoice data reporting was extended to include all taxable persons issuing invoices under Hungarian tax numbers.
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