Hungary l Modifications to Real Time Reporting System Effective May 2019

From 1st May 2019 the current specified XML format for transferring invoice data under Hungary’s Real Time Reporting System (RTR) will no longer be valid.

Launched on 1st July 2018, the RTR requires that impacted invoices be reported electronically in real-time through the Online Invoice System, the Hungarian National Tax and Customs Administration’s e-invoice platform.

This requirement covers all sales invoices and related documents such as credit notes for domestic business-to-business (B2B) transactions with a VAT value equal to or exceeding HUF 100,000. The invoice data must be transmitted to the Hungarian tax authorities, in XML format, through the e-portal, immediately after the invoice has been issued, without human intervention.

Under the recent legislative amendments, certain technical modifications to the reporting requirements for RTR will take effect as of 1st May 2019.  The measures, generally geared towards tightening the invoice reporting requirements, involve in addition to changes to the schema of the invoice data file, improvements to the quality of the data and new data search options.

Important changes include additional reporting of the following data:

– quantitative units: quantity, quantity unit and unit price (if they are shown on the invoice)

– currency and exchange rate used for the invoice reporting.

Failure to comply with the new obligations may result in a rejected invoice report from May of this year. It is therefore important for affected companies to make any necessary changes to their data reporting modules or ERP systems, now.