Fiscal subject related
Additionally, the document specifies that QR codes are used to receive various types of data including the method of payment and discount codes, which facilitates a more efficient transaction process and improves customer service. The regulation mandates that QR codes facilitate the reception of customer invoice requests, which must include the customer’s email address for electronic invoicing. Encryption keys, obtained via QR codes or other means, are essential for securing communications between e-cash registers and the tax authority’s IT system, protecting sensitive data from unauthorized access.
To support these sophisticated functions, e-cash registers must adhere to stringent technical requirements ensuring their capability to manage encrypted data effectively. This ensures that every transaction is not only streamlined but also meets the rigorous data protection standards mandated by Hungarian regulations. The implementation of QR codes and strong encryption measures in e-cash registers represents a significant advancement in the digitalization of financial transactions, aligning with broader national goals to enhance digital security and efficiency. The document further highlights that QR codes must be scanned to validate the integrity of recorded data, ensuring compliance and accuracy in financial reporting.
Other news from Hungary
How may the customer application used alongside the new e-cash register in Hungary allow for more flexibility for both sellers and customers?
Hungary’s new e-cash registers, paired with customer applications, aim to enhance flexibility for both sellers and customers by offering advanced features like preset payment methods and automated receipt preferences. Customers can define tipping amounts and locations, while sellers gain options to deliver e-receipts enriched with detailed product information, replacing traditional paper receipts. Read more
Hungary strengthens alcohol advertising regulation that impacts traders selling these products.
Hungary has introduced stricter regulations on alcohol advertising, prohibiting such ads near health and educational institutions, in store windows, and areas visible from public places. The updated law also bans advertising alcoholic beverages in theaters before 8 p.m., on children’s products, and near programs targeted at minors, reinforcing existing measures against ads harmful to youth. Retailers must comply with these changes by January 1, 2025, which may necessitate adjustments to their marketing and advertising strategies. Read more
New document was uploaded: Recorded webinar: E-invoicing for Global Retailers
If you are struggling with complex e-invoicing implementations across multiple countries, and if you are concerned about mounting costs, potential delays, or compliance risks, our webinar will help you to learn how global retailers can streamline e-invoicing efficiently! With countries worldwide mandating e-invoicing, international retailers face unique challenges adapting to new regulations acros... Read more
A proposal for VAT in the digital age (ViDA) has been approved.
The EU's Economic and Financial Affairs Council (ECOFIN) has approved the Value Added Tax in the Digital Age (ViDA) proposal, aiming to modernize VAT rules and combat tax fraud. ViDA introduces key measures like Digital Reporting Requirements (DRR), VAT collection for the platform economy, and expanded Single VAT Registration, with implementation planned from 2027 to 2035. Businesses must prepare... Read more
EU to protect domestic e-commerce sellers with a cross-border tax reform
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EU VAT Validation Tool
One way to validate VAT numbers in the EU is the VAT Information Exchange System (VIES), which is a crucial tool for businesses operating within the European Union. Owned by the European Commission, VIES is a search engine that retrieves data from national VAT databases to verify VAT numbers. Here’s a detailed look at how VIES works and its significance. How VIES Works When a search is made usi... Read more
Hungary's deposit return scheme now entering a new phase
Hungary started its environmental transformation with the launch of its deposit return system (shortened as DRS) starting this year. From this month, July 2024, Hungary entered the next phase of its DRS, with the end of its six-month transition period, during which time drink producers could place on the market beverage packaging both with and without deposit markings Read more