The Hungarian Parliament is reviewing an extension of the temporary Value Added Tax cut on housing and construction. The rate will be maintained at 5% instead of the standard rate of 27%. The cut was first introduced in October 2020 for the calendar year of
Mandatory electronic reporting of goods freight movements to fight VAT fraud Hungary has launched (February 2021) an electronic registration portal for mandatory notifying the tax authorities of qualifying cross-border freight transport. It is aimed at ensuring and stocks movements may be verified against subsequent VAT
Hungary has increased its standard Value Added Tax rate from 25% to 27% from 1 January 2012. This indirect tax rise is to help stabilise the government’s rising deficit with the aftereffects of the 2007/08 financial crisis and the ongoing Euro currency crisis. The reduced
