New changes in the EU VAT regulations
From 1 January 2020, the European VAT regulations will be standardized in several areas to simplify and standardize VAT management on the ground of sale of goods within the EU.
In order to be exempt from VAT, the issuer of the invoice must know the VAT number of the customer in another Member State and check the validity before issuing any invoice (i.e. the use of the VIES database becomes an obligation for companies). For chain transactions, i.e. where goods are resold several times, and they are dispatched as a consignment or transported directly from the first supplier addressed to the name of the last customer, new rules are applicable for the place of supply of goods (place of the taxable transactions). In addition, different certificates are required for transportation by the seller and the buyer between Member States.
The amended rules of the Hungarian VAT Act will enter into force in the middle of 2020, while some rules will be introduced by directly applicable EU regulations.