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S4FN Hungary SAP Add-on is ready for Real-Time Invoice Reporting (RTIR)

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 only 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. €1,600) per invoice.

According to the latest proposal, the government has new Online Invoice System for companies and it’s ready with the new model(RTIR). Generation of this report will be in XML format and taxpayers must send the invoice data to NTCA without human intervention.

The S4FN SAP solution generates XML file automatically for the Cloud Portal Solution which you can employ CSV files and send it without any on-premise setup or they can integrate portal with your ERP system.

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