- The autumn tax package was released for public consultation by the Ministry of Finance in mid-October with a deadline for comments by 24 October
- The package includes amendments such as implementing EU rules by 2025 allowing SMEs in the EU, but not established in Hungary, to opt for VAT exemption if their annual net turnover is under HUF 12 million
- The preferential VAT rate of 5% on sales of newly built residential homes is extended until 31 December 2026
- From 2025, tax rates will automatically increase with inflation for items like fuel and alcoholic beverages, and from 2026 for other taxes such as excise tax on fuel and tobacco
- Retail tax will now include platform operators like online marketplaces, which will be taxed on the net turnover of all goods sold, including their own retail activities if applicable
- Platform operators must notify tax authorities within 15 days of becoming taxable
- A new tax procedure will allow the tax authority to request taxpayers to correct errors in their data within 15 days, with penalties for non-compliance that increase over time
Source: ceelegalmatters.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
