News

NAV launches online invoicing system

Tuesday 3 July 2018 00:25 CET | News

As of Sunday, July 1, all companies must send the tax authorities a copy of their invoices containing VAT higher than HUF 100,000.

The reasoning behind the online invoice registration system is to reduce tax fraud and allow the National Tax and Customs Administration of Hungary (NAV) to see the issued invoices in real time and to identify attempted tax fraud sooner. All invoices must be registered, which means hard-copy invoices too.

According to experts cited by business daily Világgazdaság, many companies are not yet prepared to connect to the NAV systems. The technical specifications were published only in January and the final version of the law was published in the official gazette Magyar Közlöny on June 1. 

Companies that are not yet prepared for the online invoice registration can opt for several solutions: buy software able to forward the data or, if possible, delay issuing the invoice. Or they can temporarily opt to issuing hard copy invoices. In this case, companies will need to register the invoice with NAV manually.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: National Tax and Customs Administration of Hungary, online invoicing, fraud, Hungary
Categories:
Countries: World