Important changes to Hungarian RTR and local purchase listing obligation
The Hungarian tax office has announced changes in the real time reporting (RTR) system that will kick in, in two steps: As from July 1, 2020 and as from January 1, 2021 there will be substantial changes to the Hungarian real time reporting system.
Up to the July 1, 2020, taxable entities registered for VAT in Hungary are obliged to transfer the content of their invoices issued to taxable entities registered in Hungary, when the Hungarian VAT amount charged on the invoice is, or exceeds HUF 100.000. This transfer is done through a special online connection to the tax office.
Taxable entities registered for VAT in Hungary who deduct Hungarian VAT, must currently attach a local purchase list to their VAT return, that lists the invoices declared for VAT deduction in the period, when the VAT charged on the invoice is or exceeds HUF 100.000.
In addition there will be technical changes that need to be completed by April 1, 2020.
Changes as from April 1, 2020
- The Hungarian real time reporting system “Online Számla” will be moving over to “Version 2.0” XML schema. This has impact not only on the format of the data but also the security surrounding the communication itself.
Changes as from July 1, 2020
- All invoices need to be reported if issued by a business registered for VAT in Hungary in relation to goods and services sold to another taxable entity registered in Hungary where the place of supply is located in Hungary;
- This obligation includes reverse charge or VAT exempt invoices;
- The M pages (summary purchase list) will need to include all invoices reported for deduction in the specific period.
Changes as from January 1, 2021
- All sales invoices issued under the Hungarian VAT registration need to be included for real time reporting, also when issued to non-taxable entities, private individuals and foreign taxable entities (no exception for distance sales).
How can Pincvision support you?
Pincvision will be able to support you with the Hungarian changes as outlined above. Would you like to talk to one of our VAT Specialists? Send an email to email@example.com with your question, or call +31(0)88-4321800 We are happy to assist you!