- Starting in 2025, Hungary’s tax authority will implement a new monthly late payment penalty system, replacing the previous annual lump-sum charge, requiring businesses to manage and pay late fees on a monthly basis.
- Key deadlines have shifted: the late payment penalty for 2024 must be paid by March 31, 2025, and penalties for January to March 2025 are due in April, with subsequent monthly fees payable by the 20th of the following month, only if they reach HUF 5,000.
- This change will necessitate adjustments in financial planning and cash flow management for businesses, particularly those with seasonal income, highlighting the importance of seeking payment facilities and tax advisory services to navigate the new requirements effectively.
Source RSM
