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Upcoming threshold change of the domestic itemized report in Hungary | News Flash

23 Jun 2017

Download PDF!

 

As we have published last year in our article about upcoming changes to Tax Package for 2017, a new requirement will be implemented regarding the itemized reporting of invoices with VAT amount over 100,000 HUF.

Currently, entities are required to prepare and submit itemized VAT report of their invoices with value over 1 million HUF (approximately 3,200 EUR). However, as of July 1st, 2017, this threshold will be reduced to 100,000 HUF (approximately 320 EUR), so the itemized VAT report must be prepared for all transactions which have VAT value above this amount. Credit notes and debit notes also fall within the same guideline, and must be reported accordingly.

It is worth to note that failure to comply with this regulation may result in penalty of up to 500,000 HUF (approximately 1,600 EUR) per each undeclared invoice.

For further info regarding this upcoming change or assistance with regards to preparation of itemized reporting, please contact our experts.

 

For further info regarding this upcoming change or assistance with regards to preparation of itemized reporting, please contact our experts!

 

Contact:
István Nemecz
Managing Director, Accace Hungary
Istvan.Nemecz@accace.com
+36 141 235 35

 

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About Accace

Originally established in Central and Eastern Europe in 2006, Accace ranks among the leading outsourcing and consultancy providers in the region. Engaging over 600 experts, we have vast experience with handling small to large scale, multi-country outsourcing projects and providing a comprehensive range of our services to over 2,000 customers.

About Accace Circle

Accace operates internationally as Accace Circle, a co-created business community of like-minded BPO providers and advisors who deliver outstanding services with elevated customer experience. Covering almost 40 jurisdictions with over 2,000 professionals, we support more than 10,000 customers, mostly mid-size and international Fortune 500 companies from various sectors, and process at least 170,000 pay slips globally.

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