Hungarian online invoice system contributes to “whitening economy”
Hungary’
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Posted on Jan 10, 2019
Submitted by TRF News
TRF News
Hungary’s comprehensive online invoicing system has been operating seamlessly since its introduction in July 2018 and has contributed to a HUF 403bn jump (€1.3bn) in VAT revenue year on year, said the Finance Minister Mihaly Varga.
Varga noted that millions of electronic invoices contained a huge amount of data, an analysis of which enabled law-abiding taxpayers to be distinguished from non-compliant businesses.
Online invoicing helps targeted and swift action against fraud, he said." data-share-imageurl="">