Legal changes effective from 1st July 2020
Due to the legal changes, data on issued and received invoices must to be provided much more widely than before. Changes to invoicing will result in a change in VAT return practices.
The next milestone in online invoicing is due on the 1st July 2020. The planned changes for the 1st of April 2020 were postponed because of COVID-19. In addition to these changes on the 1st of July 2020 the scope of online invoice data will be expanded.
The 100.000 HUF (~286 EUR) threshold is reduced to 0
In case of incoming inland invoices the domestic aggregated limit is set to 0
The most important changes in online invoice data reporting obligation
The extended data provision must be used in case of invoices issued after 30th June 2020 and document equivalent with the invoice.
- Extended scope of data provision includes information about: domestic reverse charge, specific tax-exempt and used asset sales cases.
- On the invoice form, in case of normal taxation the first 8 digits of the taxpaying partner must be displayed on the invoice form, in case of reverse charge 11 digits of the tax number must be displayed.
- The invoice must be created within 8 days of the fulfilment.
- The value limit of the (reverse) VAT is reduced to 0 HUF from 100.000 HUF
- It is not necessary to send invoice data within VAT group
In some case of VAT exemption invoice must be created for example real estate tax free sales.
It is not obligatory to create invoice of the transaction of public interest or taxfree cases where according to the VAT act it is not necessary for example Authority fees, damage fees.
As a result of the expansion of online data provision, the current value limit of HUF 100.000 in the Domestic Summary Report has been eliminated.
The related localization correction is in message 2914549 – LC HU – DSP report changes from 07/2020. The implementation and testing of the modification are recommended in the first weeks of August, as latest.
Tax audit report, RFHUAUDIT – still a requirement, its content must match the online invoice reporting obligation. We recommend reconciling the data content of the two devices.
In data services, the correction and down payment processes have an important role. As a result, it is suggested to review the business practices.
Due to our experience, the issue of localization has been treated as a lower priority during implementations, even though legal regulations, compliance and rules are an integral part of our everyday lives. In Hungary, localization not only affects the financial field, but is connected to invoicing and logistics processes.
At Onespire Zrt., a separate team deals with localization issues. Consultant colleagues of the team are working in the affected areas, cooperating with SAP Hungary.
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