Hungary: Real Time Invoice Reporting
The Hungarian Tax Authority requires all invoices above HUF 100,000 issued from a Hungarian VAT registered entity to another VAT registered entity in Hungary (B2B) to be reported. This is applicable for all companies established outside Hungary but registered for VAT purposes there, but is not applicable to sales to private consumers (B2C).
All entities that fail to meet the real-time data reporting obligation risk a penalty of up to HUF 500,000 (approximately EUR 1,550) per invoice.
Companies will have to make sure that their invoicing software is fully compatible with the requirements of RTIR and capable of real-time data transfer.
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