Export – Deadline for exporting goods from the EU

Export is exempted from VAT provided the goods leave the EU within 90 days. If the deadline is exceeded, VAT is due on the transaction. Further to ECJ C-563/12, BDV Hungary Trading of December 19th, 2013, the deadline has been extended to 360 days provided that the invoice issued for VAT after 90-day deadline is corrected. It means that VAT should be paid in case the deadline of 90 days is expired but can be refunded provided the export is made within 360 days.

 

New real-time reporting

As from 01/07/2017, foreign companies VAT registered in Hungary will be required to report their sales invoices data in real-time for all B2B sales in which at least HUF 100.000 (+/- € 300) VAT is charged. The Hungarian VAT authorities have not yet published the details of the exact real time reporting process and the specification of the real time communication. Under one of the scenarios currently being discussed, foreign companies will need to upload their draft invoice data first, wait for approval of the Tax Authority servers and then issue the invoice with the received verification ID noted. Failure to comply with this new regulation may result in a penalty up to HUF 500.000 (+/- € 1.700).