As of 1 January 2016 in accordance with a new regulation (Decree of the Ministry for National Economy No. 23/2014, the „Invoicing Decree”) invoicing software must include a new function called “data export for tax authority review” (adóhatósági ellenőrzési adatszolgáltatás) and must be able to extract invoicing data either for a certain invoice (number) range or for a certain period. The document generated for the data export must be in an XML file format, as further specified in the relevant Invoicing Decree of the Hungarian government, with a prescribed data content and in a pre-defined structure.

The requirement applies also to non-establsihed, but only Hungarian VAT registered entities. Non-compliant or incorrect implementation of the data export requirement can trigger penalties.

Please feel free to join PwC Hungary for a breakfast session on this topic on 26 November, which will be attended also by the representatives of the Hungarian tax authorities to discuss potential practical consequences.

For more information please read HERE.