The latest communication from the Hungarian Tax Office discloses interesting information about the live communication of invoice requirements, that will start on July 2018.
Who’s in the scope of live communication of sales invoices in Hungary?
Any company registered for Hungarian VAT that issues invoices with a VAT amount above HUF 100,000 (approx. EUR 320) is in scope for the real time invoicing obligation. This includes foreign businesses registered for VAT in Hungary. Failure to report the invoices in real time mode triggers penalties that can go up to HUF 500,000 (EUR 1700) per invoice.
When should the invoices be declared?
In June 17, the Hungarian Ministry of National Economy published that companies will be required to report sales invoices in scope for the real time invoice reporting; “without delay, but within 24 hours at latest” to the HU TA, according to the newly published draft of the regulation by the Ministry of National Economy. Contrary to what was speculated, companies are not required to declare sales invoices prior to sending them to the customers.
What are the requirements of the invoicing software?
Businesses will be required to register their invoicing software and the communication platform that connects their invoicing software directly to the HU TA, utilizing the official certifications provided by the HU TA.
How does the data needs to be stored and shared?
The data contained on the communication protocol is detailed on the .xsd schema file, that has been made available on the HU TA website. The latest version is different from what was released in 2016.
What can companies do to get ready for the Live Invoice Communication in Hungary?
Companies should request all required official company specific certificates, provided by the Hungarian Tax Authority.
Certify and register invoicing software in the HU TA – please note that certain versions of accounting software like excel are not accepted.
Get the communication protocol ready and registered on the HU TA, in order to access the testing portal that has been made available by the Hungarian Tax Authorities (KOBAK) – access portal here.