How to avoid penalties relating to online invoice data supply obligation

We hereby would like to offer a solution to our Partners who would like to make sure their online invoice data supply is compliant.

From the 1st of July 2020 companies are obliged to inform the National Tax Authority about each and every invoice issued between domestic taxpayers no matter the charged VAT. Although living up to these expectations from the National Tax Authority has not been easy for businesses so far, the scope of the obligatory transactions to supply data about is narrowed effective from the 1st of January 2021 – all of the issued invoices have to reported. Regarding the fact, that the Tax Authority might impose a penalty of up to HUF 500 000 (approx. EUR 1 350) per incorrectly reported invoice, or not reported at all, a lot of our Partners turn to us for advice how this risk can be eliminated. It is important to point out that the patience period effective till the 1st of April 2021 means only that the Tax Authority suspends imposing penalties – not (correctly) reported invoices of whole 2021 turn to punishable after this date.

With our recently developed innovative, IT-automated solutions we happily support you to make certain that the online data supply of the issued invoices is compliant even in the framework of continuous monitoring. In the latter case we regularly keep you updated whether the relating databases of the bookkeeping and the National Tax Authority reflect the same.

Should you have questions, the experts of VGD Hungary will be pleased to assist you to avoid further potential risks.