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, all domestic transactions between taxable persons (B2B) will be obliged to declare billing data in real time. This will include reverse charge transactions but also those that are exempt from VAT. However, Intra-Community deliveries are excluded.
In addition, businesses will be required to report all invoices received for domestic purchases on the list of domestic sales and purchases. From January 2021, the Hungarian tax authorities have confirmed that they will extend their real time invoice reporting regime to cover B2C invoices and invoices relating to B2B Intra-Community supply of goods.