Tag - Hungary

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Hungary - VAT on Food Reduced

The Hungarian Government has said that it will continue its policy of reducing rates of VAT on various foodstuffs in 2018 to boost domestic agriculture and reduce food prices.

 

 

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Hungary - Online Invoice Transfer Update

Further to a previous article we are now able to bring you an update on the real-time data transmission of invoices being introduced in Hungary on July 1st 2018.

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Hungary - possible infringement procedure

Hungary is currently under review with the European Commission regarding an infringement with Electronic Trade and Transport Control System (EKAER).  Currently under EKAER, companies should provide detailed information on all EU sales or acquisitions including domestic sales if goods are transported by road. In the Commissions’ view, “this requirement infringes on the VAT Directive in that affects cross-border EU transactions and institutes administrative formalities related to border crossings.”

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Hungary - Real Time Invoice Reporting

Further to our last article on this subject informing of the delay to real time invoice reporting until July 1st 2018, the Hungarian Ministry of National Economy has published further details.

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Hungary - Modified VAT Laws

The Hungarian Parliament has amended a number of tax laws and these were published on 19th June. The main VAT related amendments are as follows:

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Hungary - Advertisement Tax Increase

The National Assembly of Hungary adopted a law on May 16th 2017 to raise the country’s advertising tax rate from 5.3% to 7.5%. This is lower than the 9% rate which had originally been proposed...

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Hungary - Real Time Invoicing Postponed

Mihaly Varga, Minister of National Economy of Hungary, has stated in an interview with a local newspaper that the online invoice reporting will be postponed until 1 July 2018.

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Hungary - Revised threshold for domestic recapitulative statements

New legislation means that domestic recapitulative statements must be submitted for all invoices with a VAT content of HUF 100,000 or more instead of HUF 1 million which was the previous threshold...

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Hungary - 2017 VAT changes in full

The following changes will occur from the 1st of January 2017...

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Hungary - The VAT rate on internet services will be lowered in two stages

Last week it was revealed that the Hungarian Government will lower the VAT rate on internet subscriptions in two stages...

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