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Hungary introduces business-to-business transaction level reporting

03 October 2018
Hungary

Hungarian businesses will be required to report sales invoice data if the total invoice amount is within the following thresholds: Invoices with a transferred VAT amount of HUF 100,000 / EUR 320 or more within five days Invoices with a transferred VAT amount of HUF 500,000 / EUR 1,600 or more within 24 hours   Furthermore, a direct data connection to the Hungarian tax authority, via certified software, is required. Also, an invoice must be created no later than the 15th day after the services or goods have been delivered, and finally, reports must be transmitted immediately after the “technical...