Electronic invoicing becomes mandatory in Hungary as of July 1, 2018 – Avoid penalties by transferring data to NAV automatically

High financial penalties await any business that fails to correctly use NAV – the online electronic portal of the Hungarian tax authorities. Amended rules governing the accounting and invoicing of value added tax (VAT, i.e. sales tax) become effective July 1st, 2018. Hungarian business enterprises as well as foreign companies registered for value-added taxation purposes [...]