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S4FN SAP Solution for Hungary’s mandatory SAF-T in July 2018

January 10, 2018  |  Compliance, Europe, Financial software

According to recently adopted legislation in Hungary, as of 1 July 2018, the invoicing software of Hungarian taxpayers will be required to have a direct data connection with the Hungarian tax authority in order to report sales invoice data in real-time. This liability will apply to Hungarian business to business (B2B) invoices in which at least HUF100,000 (approx. €320) value added tax (VAT) is charged.

The requirement will also apply to entities that are VAT registered in Hungary as well as to those whose invoicing function is managed abroad. Failure to meet the new obligation may result in a penalty up to HUF500,000 (approx. €1,700) per invoice.

According to the latest proposals, taxpayers will need to upload their draft invoice data first, wait for approval from the Tax Authority servers and then issue the invoice with the received verification ID noted. This approach would require a significant revision of the invoicing processes as compared to the simpler alternative scenario of post facto reporting of issued invoice data.

The S4FN SAP Solution for SAF-T

  • S4FN’s add-on completely run inside SAP
  • Integrate with PI/BizTalk
  • Standart SAP Authorization
  • All Developments under a package
  • You can use our custom connector for outbound tasks.
  • Globally registered namespace /S4FN/
  • Own customization tables,
  • Own transaction codes and menus
  • Installation just required importing transport files

Implementations

  • SAF-T for Poland
  • SAF-T for France
  • SAF-T for Lithuania
  • SAF-T for Norway
  • SAF for Hungary

Download Presentation

Request Proposal and Quota

contact[at]s4fn.com

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