Hungarian electronic tax invoice system “singular in EU”?
The number of electronic invoices received by the tax office has been increasing exponentially, a finance ministry official has said.
On April 7, the record of 3.5 million e-invoices submitted in a single day was broken, Izer Norbert, the finance ministry’s state secretary for taxation, said in a statement on Saturday.
Izer noted that almost all invoices have been submitted through the online invoicing system since April 1, adding that e-invoicing may possibly be the greatest breakthrough of the 21st century in terms of tackling the black economy while also
providing Hungarian companies with several tax office services which, he said, were “singular in the European Union”.
Other news in Business:
- Would you like to buy an apartment in the Hungarian capital? It is now or never!
- Incredible! The number of apartment purchases hits decade peak in Hungary
He said the government had liberated households from the hassle of filling out a personal income tax return in 2017, and now small business owners can also benefit.
The official said that amid the epidemic, online invoicing was a good substitute for risky paper-based invoices. The seller sends the invoice data to the tax office and the buyer simply downloads it, so the data is also provided by electronic invoicing.
Many small businesses have switched to electronic invoicing, saving 700 forints (~€ 2) per slip while boosting data security, he added.
Read alsoFord opens a logistics centre in Hungary
Source: MTI
please make a donation here
Hot news
Hungary calls for stronger nation-state sovereignty in the EU, rejects treaty changes for political power shift
All Saints’ Day and clock change: Changes to Budapest transport timetables
National Bank of Hungary: Maintaining banks’ strong capital position ‘pivotal
Top Hungary news: magnificent castles, new flights to Budapest Airport, 15th-century sword and change in bottle redemption system – 28 October, 2024
Orbán cabinet: Ill-advised policies jeopardising European Union’s existence
Drivers watch out! 26 fixed speed cameras to be installed in Budapest