|Update:||Compliance Alert - Grace period for B2C cross-border transactions extended through 30 June 2021|
On 3 March 2021, the Hungarian tax authority announced the grace period for further 3 months and released guidelines, covering specifications and exemptions from the real-time invoice reporting (RTIR) obligation for distance sales that has been in effect since 4 January 2021.
From 1 July 2021 the exemptions will apply to:
- Taxpayers planning to register with OSS (One Stop Shop) in one of the EU member states by 1 July 2021.
- Taxable persons who are obliged to register in Hungary for VAT purposes only because of distance sales to Hungarian customers.
Until that date, under the current rules, taxpayers doing cross-border sales with Hungary still have to report the invoice data to The National Tax and Customs Administration of Hungary (NAV).
If taxable persons make necessary amendments in their reporting systems in order to be able to provide invoice information for a quarterly period, NAV will also grant them an exemption from the RTIR obligation until 30 June 2021.