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Jan 18, 2018

Hungarian government to launch new online tax invoicing system

The economy ministry announced that the government will give businesses more than a year to adapt to the new system, and tax authority NAV will provide them with all the necessary assistance

The Hungarian government will launch a new online tax invoicing system in July, it has been revealed.

The economy ministry announced that the government will give businesses more than a year to adapt to the new system and tax authority NAV will provide them with all the necessary assistance.

According to MTI, in addition to contributing to the “whitening of the economy”, the online system will also significantly reduce administrative burdens on businesses.

The invoicing software will forward information directly to NAV when the value of the VAT is at least 100,000 HUF (324 EUR). Data on the paper-based invoice will also have to be forwarded the day after its date of issue at the latest if the value of the VAT is 500,000 HUF or higher. If the VAT is less than 500,000 HUF, the data on the invoice will have to be forwarded within five days of the date of issue.

Reports state that the new system will also enable entrepreneurs to view all their invoices that have been sent to the tax office, including those issued by their partners.