Hungary changes VAT rules on car sales
- 18 April 2013 | Richard Asquith
The latest Hungarian VAT Act makes provision for changes on the VAT liabilities on cars, as follows:
- Sales of cars with non-allowable VAT will now be VAT exempt if there is no VAT on the sale of the vehicle.
- Companies leasing cars on long-term (longer than one year), finance leases may offset tax against the motor vehicle tax.
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.