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Online invoicing – no objection is raised by the European Commission Online invoicing – no objection is raised by the European Commission

Online invoicing – no objection is raised by the European Commission

 

The European Commission, within the time limit available, did not raise any objection concerning the draft regulation on online invoicing of the Ministry of National Economy.

 

Accordingly, it is expected that the draft decree will be adopted in unchanged form.

 

It means, that from 1 July 2018, all taxpayers, issuing for a domestic taxpayer an invoice with VAT content at least of 100 thousand HUF, shall be required to provide online data to the National Tax and Customs Administration (NAV).

 

We draw the attention of our Clients that less than two months have remained until the date of entering of the new rules into effect and that NAV may also impose 500 thousand HUF fine per invoice in case of failure of reporting the data. 

 

Based on our experience, the incorporation of the online connection into the already existing systems, or fulfilment of it via a separate module connected to the existing system is a complex technical or taxation issue that requires a significant amount of time.