• Kocsi Ltd. Accounting and Financial Services Govt UID: 01-09-075489 / VAT ID: HU10527812

    Changes in tax regulations in 2020 VAT:

    • VAT statement - aggregated domestic tax reports: starting from 01.07.2020, VAT statements and reports needed to be submitted of all the transactions subjected to domestic tax deduction regardless of threshold

    • Starting from 01.07.2020, it is mandatory to indicate the customer’s tax identification number entries in the header of the receipts of all the domestic transactions regardless of threshold

    • Starting from 01.01.2020, it is mandatory to issue an invoice for every transaction that is considered exempt from VAT: private healthcare, education, property sales, naturopathy etc.

    • Mandatory online invoice data reporting, starting from 01.07.2020:

    - of every invoice billed (w/o threshold) to any taxpayer holding a domestic tax ID (for 0% VAT as well as for reverse VAT!) – applicable to: standard invoices, credit or debit invoices or invoice equivalent certificates

    • Mandatory online invoice data reporting starting from 01.01.2021:

    - of every invoice billed to non-taxpayers, including the EU tax exempt transactions – applicable to: standard invoices, credit or debit invoices or invoice equivalent certificates

    • The Simplified Entrepreneurial Tax will be ceased – the entrepreneurs who have been utilizing the benefits of SET (known as EVA) will be subjected to VAT

    • Hotels and accommodations: The rate of the VAT will be reduced to 5% to all those transactions where the service was fulfilled after the following due date: 31.12.2019, however it is still mandatory to file and pay the tourism development contribution (4%).

  • Accounting and Financial Services Kocsi LLC Accounting Tax Advisory Services Accounting Office in Budapest This website works best with the latest versions of either Google Chrome or Mozilla Firefox, Opera and Internet Explorer.