Content requirements
The requirements regarding the content of invoices conform to the principles specified in the relevant EU Directive. It should be noted that on invoices issued in a currency other than HUF
- the amount of payable VAT must always be indicated in HUF.
- the application of a special exchange rate for the calculation of the HUF equivalent is required by law (in general, it is the selling rate quoted by a domestic credit institution on the date of supply or, if advance notification is given, the medium exchange rate quoted by the Hungarian National Bank or the European Central Bank).
In certain cases, the VAT Act requires a pre-defined text to feature on the invoice (e.g. self-invoicing, reverse charge).
Invoice, billing software
The issuer may comply with the obligation to issue invoices by issuing hard copy invoices with an invoice book (available in shops selling official forms), computer-generated invoices with the help of an invoicing program, or electronic invoices. Special rules apply to issuing, forwarding and archiving of electronic invoices, which concern both the issuer and the receiver.
The invoicing software must meet the requirements set forth in a separate decree; most important are continuous numbering without omission or duplication (with a separate number range for foreign companies), and exclusion of the possibility of retroactive modification or deletion. Data generated with invoicing software must be reported to the tax authority and a detailed user manual must be available.
If the parties agree in writing, the buyer may also issue the invoice (self invoicing).
Retail units are required to comply with the obligation to issue receipts using cash registers suitable for online data transfer that are directly connected to the tax authority.
Real time invoice reporting
The invoicing software has to transfer the data of sales invoices to the tax authorities automatically, without human intervention and immediately as soon as the invoice is approved by the issuer. This liability refers to all sales invoices issued by the taxpayer.