Hungary
VAT Name :
Altalanos forgaima ado (AFA)
VAT Number Format :
12345678 (8 digits)
VAT Information Offices :
Nemzetgazdasagi Miniszterium H – 1369 Budapest Pf. 481
RATES
| Rate | Type | Which goods or services |
|---|---|---|
| 27% | Standard | All other taxable goods and services |
| 18% | Reduced | Certain foodstuffs; Some takeaway food; Admission to certain open air concerts |
| 5% | Reduced | Hotel accommodation; Certain foodstuffs; Pharmaceutical products intended for home use; Some medical equipment for disabled persons (excl. repairs); Books (excl. e-books); Newspapers and periodicals; Some social housing; District heating; Some supplies of new buildings; Internet access services; Certain writers and composers services; Restaurant and catering services; Hotel accommodation (from 01.01.2020) |
| 0% | Zero | Intra-EU and international passenger transport |
EXEMPTIONS
- Leasing and letting of immovable property (option to tax can apply in certain cases)
- Approved education
- Human medical care
- Dentists and dental care
- Hospitals and medical care
- Gambling
- Folk arts and crafts
- Public postal services
- Letting of commercial property
- Financial and insurance services
- Supply of land (option to tax can apply in certain cases, incl. supply of buildings)
THRESHOLDS
Registration Threshold : EUR 22.160 (HUF 8 million)
Distance Selling Threshold : EUR 35.000
Dispatches : HUF 100 million (simplified) or HUF 5 billion (full)
Arrivals : HUF 170 million (simplified) or HUF 14 billion (full)
Intra-Community Acquisition Threshold : EUR 10.000
VAT Free Shopping for Tourists : EUR 162
Non-Resident : Non-resident businesses without a fixed establishment must register for VAT (nil threshold)
PENALTIES
General:
– Misdeclarations or late filings/late payments HUF 100.000 to HUF 500.000
– Incorrect VAT reporting and payment, penalty up to 75% of tax plus interest charged
– Penalties may apply in cases of tax fraud, evasion, etc.
DEADLINES
Assessment Period : 5 years
Standard Tax Period : Monthly, quarterly or annual depending on turnover (EUR 3.240 annual turnover – quarterly reporting)
Periodic returns – 20th day following reporting period
Annual return – February 25th of the year following reporting period
EC Sales and Purchases lists – 20th day following period
Intrastat – 15th working day following the reporting period