The Hungarian government has decided to introduce additional e-invoicing tools for taxpayers and tax authorities from January 2024.
This instrument will be a new platform offering the possibility of preparing and submitting VAT returns via the M2M (Machine to Machine) eVAT system in electronic format (XML) and will be managed essentially by the tax authorities.
This applies to taxable persons resident in Hungary carrying out B2B and B2C transactions, as well as non-resident companies identified for HU VAT purposes and carrying out transactions on Hungarian territory.
This eVAT M2M solution will aim to :
- Reduce administrative burdens for tax authorities and taxpayers;
- Reduce the number of tax audits and requests for information from the Hungarian tax authorities;
- Increase the effectiveness of the fight against tax fraud and optimise VAT recovery.
The eVAT should replace the existing monthly ‘M-forms’ declaration for domestic sales and purchases in Hungary.
If you would like to find out more about advances in this eVAT solution and your tax obligations, please contact our tax experts.
