The Hungarian Ministry for National Economy on 17 January 2018 confirmed that “online invoicing”—a new tool to address potential tax issues including tax avoidance—will take effect and “go live” on 1 July 2018.
In addition, a draft decree providing rules for online invoicing and a description of IT-related details was released. The draft decree provides that invoicing software must be capable of immediate data provision. While the draft decree does not include a proposed 24-hour rule as the standard timeframe for data provision, the invoicing software must therefore be able to provide real-time data without manual intervention.
As a new element, the draft decree includes detailed rules about situations concerning software malfunction, maintenance, and internet service issues. One new element provides that in instances of “a longer period of malfunction,” data provision is to be conducted manually.
The scope of online invoicing, thresholds of data provision, and rules regarding invoices issued manually generally remain the same as the measures previously mentioned in informal communications.
Read a January 2018 report (Hungarian and English) [PDF 1.1 MB] prepared by the KPMG member firm in Hungary
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