More Detailed VAT Returns in 2017

The rules of invoicing and VAT returns will change in two steps in 2017. From 1 January the buyer’s VAT number must be shown on every domestic sales invoice which include a VAT of HUF 100,000 or more.
From 1 July every invoicing software must send all the domestic sales invoices including VAT of HUF 100,000 or more immediately to the tax authority. Those entrepreneurs who still use hand written invoices, have to report all these transactions one by one in the VAT return. This rule also applies if the invoices of the same partner achieve this monthly limit.
The current limit of the above regulations – except the real time submission – is a VAT of HUF 1 million.
For further details, contact us at contact@leinonen.hu