Hungary VAT rate proposals
- European News
- 9 May 2016 | Richard Asquith
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
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.