31 May 2016
A number of changes within the Hungarian VAT act were discussed by Parliament in May. If accepted these changes could include:
- lowering the VAT threshold from HUF 1m to HUF 100,000
- cutting the VAT rate on domestic internet services
- Applying the reduced VAT rate of 5% to basic foodstuffs from January 2017
- Reducing the VAT rate on restaurant supplies from 27% to 18% from January 2017. With a further decrease to 5% from January 2018.
LATEST NEWS
Several member states are proposing the introduction...
Several EU countries, including Belgium, France, the Netherlands, and Romania, are proposing the introduction of a national handling fee on low‑value...
SEE MORE
LATEST NEWS
Reminder: Bulgaria joined the Eurozone on 1 January...
From 1 January 2026, Bulgaria has adopted the euro as its official currency. The country has been preparing for this transition since joining the European...
SEE MORE
LATEST NEWS
EU to remove the customs duty exemption for “low...
Currently, imports valued at €150 or below can be imported duty free into the EU. However, the European Union has reached an agreement to abolish this...
SEE MORE