Summary 20 posts

NAV Online invoice version 2.0 - more than just an invoice

The Hungarian Tax Authority (NAV) published the missing, but most awaited component (the new XML template /XSD documentation/) of the real-time invoice reporting obligation, Online számla version 2.0 for the last day of August. This template details the future structure in which automated invoicing applications, or ERPs must report data to the tax authority, including the type of data to be included in online invoice data reports.

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Online invoice reporting - the most common faults

For nearly a year, in Hungary taxpayers have been required to report their invoices issued to domestic taxpayers in real time, whenever the chargeable VAT exceeds HUF 100,000. What are the most common faults and challenges in the Hungarian online invoice reporting?

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Brexit guide for UK companies operating in Hungary

At the moment there is no clear single scenario with respect to how the Brexit will evolve (no-deal Brexit, postponing the Brexit, some sort of deal, etc). We think reasonably prudent businesses should start preparing for no-deal Brexit, despite the probability of other scenarios.

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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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A Thousand Nights and Arabian VAT

Only a few know that the member states of the Persian Gulf Cooperation Council, i.e. Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, Qatar and Oman started a common customs union in the Persian Bay area from 2015.

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