Hungary VAT changes
- Jul 17, 2018 | Richard Asquith
Hungary has proposed a range of VAT changes for January 2019, including:
- Single-purpose vouchers where the underlying taxable supply can be determined must be taxed at the point of sale. Multi-use vouchers are not taxable at sale; instead at the point of redemption. This is in line with new EU guidance.
- VAT on ESL and UHT will change to 5%
- The domestic reverse charge mechanism, used to curb VAT fraud, will be extended on the supply of steel and grain products.
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Researching Hungarian VAT legislation is the first step to understanding your VAT compliance needs. Avalara has a range of solutions that can help your business depending on where and how you trade.