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Bálint Szűcs

A new tender for renewable energy support has been published in Hungary

The Hungarian Energy and Public Utility Regulatory Authority has published the 2020 green premium tender. Power plants producing electricity from...
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NAV Online Invoice - there is no delay, but there is a 3-month sanction-free period

Due to the difficulties caused by the coronavirus, the tax authority will not sanction, until 30 September 2020, the new taxpayers subject to the online data supply obligation from July, who are not yet able to comply with the regulations. The deadline for extending the data supply obligation is therefore not delayed, but NAV (Hungarian Tax Authority) will not penalise its omission for the first 3 months if taxpayers register in the Online Invoice system.
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Another option for employers: the job-creating wage subsidy has arrived

As part of the COVID-19 Economic Protection Action Plan, the Hungarian government has launched a new wage subsidy programme now to enhance job creation. Its main purpose is to provide help in recruitment for employers who have been forced to lay off workers in recent months due to the economic impact of the coronavirus.

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Guide to NAV Online Invoice reporting - lessons to learn

The online invoice experience of nearly 300,000 first Hungarian swallows can be found useful for those taxpayers who join later. Summarizing our experience as a tax consultant and digital tax solution provider, with the understanding of corporate operations and expectations of the Hungarian Tax Authority (NAV),we would like to draw your attention to some challenges and faults to help newcomers to the world of online invoice reporting.

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VAT return from 1 July: M sheets must also be reported without a threshold in Hungary

From 1 July, 2020 according to the VAT Act, the data of all approved incoming supplier invoices for which the company intends to exercise the right to deduct VAT must be provided to NAV on the M-sheet in the domestic recapitulative statement, regardless of the VAT threshold. This will make not only the invoices issued, but also the invoices approved between companies, fully visible to the tax authority.

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