Companies are now required to use an online system for issuing invoices that automatically reports transactions with VAT of 100,000 forints (EUR 310) or more to the tax office, under rules in effect from July 1 and enforced from August 1.

Varga said companies had submitted 7.5 million electronic invoices to the tax office in the first two weeks after the mandatory practice started being enforced. So far, 272,000 businesses have registered to use the online system, he added.

Mandatory e-invoicing is one of a number of measures Hungary’s government has taken to crack down on tax evasion in recent years.

MTI photo: Bruzák Noémi