From January, all invoices will be visible to NAV

By: Trademagazin editor Date: 2020. 11. 11. 11:13

Next year, the tax authority must be notified immediately if a company issues an invoice to individuals or foreign buyers. This imposes a new type of obligation on companies – was said at EY’s webinar. Failure to provide online data can sometimes result in a fine of up to 500,000 HUF, so it is worthwhile for companies to automate their existing systems in a timely manner.

Until now, it has been sufficient to upload invoicing information between domestic companies (taxable persons), such as customer data, tax numbers and items, electronically on the dedicated page of the National Tax and Customs Administration (NAV). From 1 January 2021, however, an invoice issued to a retailer, ie to an individual, will also be subject to reporting. Moreover, cross-border settlements, such as sales to the European Union and third countries, must be reported in this way. This step will significantly expand the range of taxpayers using the Online Invoice system.