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. €1,700) per invoice.
According to 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 generate of the XML file automatically For the Cloud Portal Solutions which you can employ CSV files and send it without any on-premise setup or we can integrate portal with your ERP system.
Generation and sending;
S4FN connector gather related invoice data from Client’s standard SAP tables and populates them in to /S4FN tables.
Generates XML file
Automates forwarding of the validated file from Hungarian tax authority
All transactions will be automatic which means when your files are sending you can continue to work.