Hungary cuts VAT on new build dwellings
- European News
- 26 December 2015 | Richard Asquith
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.