Hungary drops VAT on internet services to 5%
- Dec 22, 2017 | Richard Asquith
From 1 January 2018, internet services provided to consumers will be charged at the reduced VAT rate of 5%. Such services are currently liable to the 18% reduced VAT rate. Until Jan 2017, the VAT rate was the standard rate, 27%.
The subsidy to boost internet adoption will cost the government an estimated €70m per annum.
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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax
Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara