TAX MAG: VAT news in Europe

Keep up with the latest Intra-Community and European VAT news, decoded by our experts.

Focus: Hungary

Hungary – Real-time Reporting Threshold Removed

From April 2020, the Hungarian National Tax and Customs Authority (NAV) will require all taxpayers to use the XML version 2.0 of e-invoices in their online returns. A new XML (V2.0) has been made mandatory. Incoming invoices will be available on the NAV portal After 1st July 2020, all transactions between taxpayers established in Hungary...
18 July 2021

Hungary – Extension of the Real Time Billing Scheme

Currently, all companies involved in B2B sales in Hungary, with a VAT amount exceeding HUF 100,000 (approximately $320), must declare their invoices to the Hungarian tax authorities at the same time as they issue the invoice to their customer. From 1st July 2020, the threshold of HUF 100 000 will be abolished. As a result,...
16 July 2021

Hungary – Covid-19: Faster VAT Refunds

In order to reduce the impact of the health crisis (covid-19), the Hungarian government has announced that VAT refunds will be made: within 30 days for small and medium-sized companies (normally 75 days) provided they are not considered to be at risk, within 20 days for taxpayers considered reliable.
Country Briefs
16 May 2020
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