Daily Tax Report: International

Hungary Expands Real-Time Invoice Reporting to Catch Tax Cheats

Dec. 3, 2019, 2:58 PM

Hungary wants more companies to report invoices in real-time as it continues to crack down on VAT fraud.

The country’s parliament Dec. 3 approved a bill in a 143-31 vote that would broaden a 2018 program requiring companies to report domestic business-to-business sales with a total VAT value of at least 100,000 Hungarian forint ($333).

The measure would remove the threshold starting July 1, 2020, and would require companies to begin reporting all domestic and international sales by Jan. 1, 2021.

The government hopes the bill will reduce Hungary’s VAT gap—the difference between expected VAT revenue and revenue...

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