Starting from July 2018, business associations having a Hungarian tax number will be subject to a data disclosure obligation toward the tax authority in the electronic form specified by a separate provision of law, concerning the data content of the invoices issued with the use of invoicing software, in case the amount of the tax charged to another tax subject registered in Hungary reaches or exceeds HUF 100,000.
The disclosure of data must be performed online and in real time, and failure to do so will entail very serious consequences, as a fine of up HUF 500 thousand per invoice may be imposed on the taxpayer for deficient or missed data provision.
In case of taxpayers using invoicing software developed in Hungary, the preparation for the real-time data disclosure obligation is easier, since developers are aware of the new obligations and they prepare their software to satisfy them. The preparation and the development are much more difficult, however, if the software is controlled by a foreign entity, perhaps the parent company itself, since these parties may not be fully aware of the relevant obligations, or able to correctly assess the significance of the project, resulting in the development project facing major obstacles.
The specialists of Mazars are pleased to offer their assistance to businesses where the process of the development has stuck, is moving along with difficulties, or maybe has not even started. If requested, Mazars is able to help businesses in cooperation with the developers to prepare the invoicing software for the real-time data disclosure.
To whom do we recommend our services?
- We primarily recommend our service to business associations using invoicing software developed abroad, since the task of Hungarian developers, who are familiar with the Hungarian legal environment, is easier to prepare for this change.
How can we help?
- We present to the foreign management and foreign software developers how the system operates, what they should pay attention to, and what risks it involves if the development is not carried out with the specifications provided. We also present the most important rules applicable to invoicing, and examine the invoicing processes used in terms of their compliance in all respects with the relevant provisions of Hungarian law.
- We provide support to the Hungarian financial management in the maintenance of contact with the foreign management and software developers.
- We help clarify how the areas of responsibility and duties are divided between those participating in the development process.
- In the course of the programming, we help identify on what exactly it is necessary and not necessary to provide information. In connection with special transactions, we present what data, where necessary, should be sent to the Tax Administration (e.g. self-billing, modification of invoices, etc.).
- In connection with the data disclosure for the authority, we make available the necessary scheme, help in the interpretation of the same, and also check the data packets prepared for compliance with the requirements of the law.
- If requested, we participate in the setting up of an interface that makes it possible to perform the real-time data disclosure service, and constitutes an inseparable part of the invoicing software, even though linked to it as a separate module.
In case you are interested in the above, please do not hesitate to contact us using any of the contact information below.
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