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.