Hungary introduces business-to-business transaction level reporting

Hungarian businesses will be required to report sales invoice data if the total invoice amount is within the following thresholds:

• Invoices with a transferred VAT amount of HUF 100,000 / EUR 320 or more within five days
• Invoices with a transferred VAT amount of HUF 500,000 / EUR 1,600 or more within 24 hours

Furthermore, a direct data connection to the Hungarian tax authority, via certified software, is required. Also, an invoice must be created no later than the 15th day after the serv…