Have you already prepared for online invoicing? Part 4 - Mazars Tax Newsletter 2018/12

Less than one month to go until real-time data reporting obligation comes into force! We arrived to the point of no turning back: the related decree has been published by the Hungarian Ministry of Finance!

The long-awaited decree on real-time data reporting obligation has just been published in the Official Hungarian Gazette. As expected, no postponement is approved by the Ministry, therefore the real-time data reporting certainly starts on the 1st of July.

It is important to mention that the technical specifications themselves have not been raised to legal level. This means that data should be provided electronically in a certain way and in a given structure defined in the Notice published by the Hungarian Tax Authority. Therefore, it remains questionable, whether the currently available technical specifications are the final ones.

We would like to draw the attention to the fact that the specification has gone through several modifications in the course of the past few months. The one recently published on the official website of the Hungarian Tax Authority is version 0.14. We advise therefore the continuous monitoring of the Hungarian Tax Authority’s dedicated website, in order to avoid error messages during the testing phase. 

Even if it is unlikely that the Hungarian Tax Authority will apply the maximum penalty per invoice from Day-1, it is expected that sooner or later this sanction might be imposed. Based on our development experiences, we are in the position to state that it is still possible to comply with the new regulation as the development might be completed within 3-4 weeks. In addition, if the required development cannot be made within the given timeframe, other alternatives are also at our disposal in the course of the transition period.

Should you have any questions related to the rules of e-invoicing, to the other possible alternatives or should you need any technical assistance in the course of the development, your Mazars contact point remains always at your disposal.