Online data reporting

Online data reporting obligation of the taxpayer using invoicing software is postponed

According to the announcement of the Ministry of National Economy and the regulation of the Act on the Rules of Taxation, the online data reporting is compulsory from 1^st July 2018 (instead of 1^st July 2017) in the case of invoices issuing via invoicing software.  The reporting is only required for domestic invoices issued with Hungarian VAT exceeding HUF 100,000.

In order to that the concerned companies can prepare to this new obligation, the online data reporting can be tested from 1^st July 2017., so the companies have one year long test period to get acquainted with the data reporting, and to ask or comment. The Ministry of National Economy released a draft, which summarize how the taxpayers should report the data of the invoices.  Moreover, the draft includes the xml scheme, which expectedly will be used to fulfil the data-reporting obligation, as to send the compulsory data of the invoices immediately, but at most within 24 hours electronically to the tax authority.

According to the announcement of the Ministry of National Economy, the taxpayer have to report the data of the invoices with VAT exceeding HUF 100,000 from 1^st July 2018 (instead of 1^st July 2017). This regulation expectedly will apply only those invoices, which was not issued via invoicing software. Therefore, the limit of HUF 1 million is valid till July 2018.