Hungary – online invoice data reporting version 3.0
The Hungarian tax authority recently published a new file structure that will be the basis for online invoice data reporting in 2021. The new file structure XSD version 3.0 can be voluntarily used from 1 January 2021. Note that the new schema will become mandatory from 1 April 2021.
This is an important development because the new XML file that is used for reporting invoice data to the tax authority could also be used as valid e-invoice. This could have a profound impact on the current invoicing process (issuing an invoice to customers and simultaneously reporting the data to the tax authority) – and make invoicing and reporting a 1-step process. However, it remains to be seen to what extent the e-invoice satisfies requirements for efficient processing in procure-to-pay processes and what role e-invoicing service providers will play in the process.
We will keep you up to date as developments unfold with Hungary.
To discuss country mandates that may affect your purchase to pay or Invoice to cash processes, reach out to our compliance team for a chat.