Hungary VAT rate proposals

The Hungarian parliament is debating a range of VAT measure this month, including:

• Lowering the VAT threshold for monthly returns from 1m HUF to HUF 100,000
• Reducing the VAT rate on restaurant supplies from 27% to 18% from 1 January 2017. And then to 5% in January 2018.
• Cutting the VAT rate on domestic internet services
• Reclassifying many basic foodstuffs to the 5% reduced rate from January 2017