Real-time data provision to the Tax Authority in Hungary – Are you prepared?
March 2018 - You might already know that as of 1 July 2018, Hungarian taxpayers will be obliged to supply real-time invoicing information to the Tax Authority (NAV) related to domestic sales invoices issued via an invoicing software where the VAT in HUF is equal to or exceeds an amount of HUF 100,000 (approx. EUR 320).
There is a new website which explains the changes and describes the details of the applicable legal provisions and – last, but not least – the technical information also can be found there in English.
According to this new reguation your company will be required to submit data of all incoming invoices by invoice and by supplier. If your finance and admin team create these summary reports one by one, manually, you exponentially increase the administrative workload and are more prone to errors.
LLP offers the option to its clients to implement an automated solution to upload the required data to the tax administration system (NAV). This solution helps you provide the data error-free and much faster than entering the information manually.
In addition, with LLP’s solution you can generate files automatically for monthly, quarterly, and annual declarations.
LLP Hungary already implemented LLP’s VAT report automation tool for several Hungarian SunSystems clients. If you are interested in this solution please contact Krisztina Bodnar at firstname.lastname@example.org.
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