According to Hungarian tax law of 2008, companies must process certain financial documents for taxation purposes. If these tax-related documents are prepared in foreign currency, they must also show the transaction amount in local currency. The required documents include:

• Invoices

• Free text invoices

• Project invoices

• Credit notes

• Corrective invoices

Companies are free to select the exchange rate used to calculate VAT for the VAT statement. The exchange rate selected for VAT calculation can be different from the exchange rate used for company accounting functions.