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Hungary cuts VAT on new build dwellings


Hungary cuts VAT on new build dwellings

Hungary has approved a reduction in the VAT rate on the construction of new dwelling from the standard rate of 27% to 5%. The new rate will only be temporary, lasting between 2016 to 2019.

The move is aimed at kick-starting the construction sector in Hungary, and boosting employment in the sector.


VP Global Indirect Tax
Richard Asquith
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.