EU grants derogation for rise in threshold to reduce administrative burden for small taxpayers and authorities Hungary has been given permission by the EU to raise its VAT registration threshold from the Forint equivalent of €48,000 to €71,500 per annum. This would be one of
VAT compliance and reporting rules in Hungary 2023 Below is summary of the major rules provided under Hungarian VAT rules (LVAT (Act CXXVII of 2007) Hungarian VAT Act.), plus adoption of EU VAT Directive provisions. See our country VAT guides. Our VAT Calculator & VAT Filer products
SAF-HU may be launched mid-2023 following COVID-19 delay Hungary’s National Tax and Customs Administration (NAV) has launching a pilot of the OECD’s Standard Audit File for Tax (SAF-T). It has already completed a public consultation at the start of 2021. Given the ongoing COVID-19 emergency,
Hungary has introduced online-linked Value Added Tax cash register requirements in 2014. This was extended in 2017 These pre-certified registers report taxable transactions to the Hungarian NAV tax office each day to help prevent and detect VAT fraud. An estimated 250,000 businesses in Hungary have
EU harmonised marketplace transaction reporting requirements and data sharing Hungary has implemented the legislation for Directive on Administration Cooperation (DAC 7) from 1 January 2023. The first reports by digital platforms will therefore will be due in 2024. The EU-wide agreement on the exchange of
Second postponement for pre-completed VAT returns due to ongoing COVID-19 crisis; no clear plans to set implementation date The Hungarian tax and customs authority, NAV, suspended the introduction of pre-filled VAT returns, eVAT. Based on real-time RTIR invoice reporting regime introduced in July 2018, eVAT,
Beginning of end of self-prepared VAT returns Hungary is to join Italy and Spain in offering taxpayers pre-completed VAT returns – eVAT – from 12 November 2021. They were originally planned for 1 July 2021, but the National Tax and Customs Administration (NAV) had to
Real-time invoice reporting phased to pre-filled VAT returns plans suspended Hungary first introduced live invoice reporting in July 2018 for B2B transactions above HUF 100,000. The regime has since been extended to all transactions – B2C consumer (April 2021) and the threshold withdrawn (June 2020).
Hungary has exempted (no penalties) foreign e-commerce sellers from the April 2021 obligation to submit B2C live invoices via the RTIR real-time reporting system. This is provided they opt to use the upcoming OSS return, part of the 2021 EU ecommerce package reforms effective 1
The Hungarian Parliament is reviewing an extension of the temporary Value Added Tax cut on housing and construction. The rate will be maintained at 5% instead of the standard rate of 27%. The cut was first introduced in October 2020 for the calendar year of
