Online invoicing to be linked to National Tax and Customs Administration from 2017
The Hungarian Government‘s recent plan is to link the invoicing of the companies to the NTCA from July 1, 2017. According to the bill the taxpayers will provide data directly to the NTCA of any invoices issued by their accounting software where the VAT reaches or exceeds HUF 100,000. Providing data to the NTCA would take place automatically and electronically as the invoice is issued ensuring real time notification.
Currently taxpayers are compelled to report to the NTCA those invoices in which the VAT exceeds HUF 1,000,000 in the form of their ‘domestic recapitulative statements’.
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