5 Major Developments in Hungary
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New two-step authentication in the Hungarian Online Invoice System from 1 June 2023
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Council Implementing Decision Published Authorizing Hungary to Increase VAT Exemption Threshold
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Approval to Increase Annual Turnover Limit for VAT Exemption
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New preliminary questions to the ECJ in a VAT case: Novo Nordisk vs. Hungary – Case C-248/23
Bad Debts (Relief for Underpaid Sales Invoices)
Deduction (Input Tax Credit)
ECJ (European Court of Justice)
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New preliminary questions to the ECJ in a VAT case: Novo Nordisk vs. Hungary – Case C-248/23
- ECJ Case: Clarifications on Hungarian VAT base reduction rules for insurance companies
Exemption
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Approval to Increase Annual Turnover Limit for VAT Exemption
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Council Implementing Decision Published Authorizing Hungary to Increase VAT Exemption Threshold
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No objection to expansion of Hungarian small business scheme
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Council approves measure Hungary to reduce threshold to exempt SMEs from 48k to 35k EUR per year
Fiscalization
Job Opportunity
Rate
Real Time Reporting/Continuous Transaction Controls
Registration
- EU Council authorized to increase VAT exemption threshold
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Proposal authorising Hungary to exempt persons with turnover until EUR 71.500
Reporting / Compliance
SME (Small and Medium- Sized Enterprises)
- Council Implementing Decision (EU) 2023/1025 of 22 May 2023 authorising Hungary to apply a special measure derogating from Article 287
- Council approves measure Hungary to reduce threshold to exempt SMEs from 48k to 35k EUR per year
- Hungary VAT registration rise from €48,000 to €71,500
- Proposal authorising Hungary to exempt persons with turnover until EUR 71.500
Taxable Person
