Hungary has continued to release additional information about its upcoming invoice reporting requirements. Starting on July 1, 2018 VAT registered persons will be required to report B2B invoices of over 100,000 HUF to the government. The National Tax and Customs Authority (NAV) launched the KOBAK program at the beginning of July 2017. Registered persons can use the KOBAK system to submit test XML files in preparation for next year’s implementation of the new reporting requirements.
Taxpayers can register to use the system at a separate website. The NAV has also made the XSD schema for the XML files available at the same website. As was previously reported, the implementation of the invoice reporting requirements, along with a lowering of the invoice threshold for the domestic summary report, was originally scheduled to begin on July 1, 2017 but was delayed to 2018 by the passage of Act LXXVII of 2017.
The post Hungary Releases Additional Information of Invoice Reporting appeared first on Sovos Compliance.
About the Author
Andrew Decker is a Junior Regulatory Counsel at Sovos Compliance. Working within Sovos’ Regulatory Analysis Department, Andrew’s work centers on indirect taxes (VAT, GST, Sales Tax), with a particular focus on jurisdictions in Europe and Asia. Andrew is a member of the Massachusetts Bar with a J.D from Northeastern University School of Law and a B.A. from Bates College.More Content by Andrew Decker