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Hungary to Implement Online Sales Invoicing System on Trial Basis from July 2017 with Full Implementation in 2018

12 May 2017

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Approved Changes

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Hungary

The Hungarian Ministry for National Economy has announced it is planning to launch the new online sales invoice data reporting system on a trial basis from 1 July 2017, while delaying the full requirement to 1 July 2018. The announcement also notes that existing summary reporting requirements will continue to apply unchanged and the HUF 1 million threshold will not be reduced to HUF 100,000 as planned. The new online system requires real-time reporting of all B2B transaction invoices where value added tax (VAT) of HUF 100,000 (~USD 350) or more is charged; essentially all B2B invoices of HUF 370,000...