News in Brief
Varga: EU taxation agreement will contribute to improvement in competitiveness
In future, local companies will be able to do business in other member states using the VAT registration of their own national tax authority.
VAT
V
News in Brief
Varga: VAT compromise in digital age 'great success' of Hungary's EU presidency
Minister Varga said the compromise had been reached after two years of negotiations, adding that ministers were expected to approve the package at the meeting on Tuesday.
News in Brief
Finance Minister: Hungary among EU countries with most progress in whitening economy
The VAT gap has fallen to 4.4% from 22% and the rate of tax deductions as a percentage of GDP has decreased to 35% from 40%.
News in Brief
Government to expand VAT cuts on homes until end of 2026
The step is expected to leave 200 billion forints (EUR 513.3m) with taxpayers.
News in Brief
Government submits tax laws to parliament
In 2024, families will benefit from over 3,300 billion forints (EUR 8.9bn) in family assistance and tax reductions.
News in Brief
Lawmakers approve tax changes
Lawmakers voted to extend the preferential VAT rate on home construction and exempt advertising companies from a sectoral tax.
News in Brief
Government extends 5% preferential VAT rate for home construction
Finance Minister Mihály Varga said a 5 percent preferential VAT rate for home construction which has been extended until the end of 2024 could be applicable up until December 31, 2028 provided that construction begins by 2024.
News in Brief
Hungarian government proposes extension of preferential 5 percent VAT rate on sales of new build homes to 2023
Mihály Varga, minister of Finance, said the bill will be submitted to parliament this week for properties with a final building permit obtained by November 1, 2018
News in Brief
Hungarian government continues to slash VAT on food products
The aim of the current Hungarian government is to increase domestic consumption by providing people with cheap and affordable food, and to bring more Hungarian food from a high quality, healthy environment to the family table
News in Brief
2018 budget bill put before Parliament
Government targets are unchanged from 2017 - achieving full employment, maintaining economic growth and boosting security
News in Brief
Hungary to reduce VAT on internet access to 5 percent
The Hungarian government is also planning to establish a 5G coalition sometime during the summer, which could make Hungary one of the first European centers of 5G development
News in Brief
Hungarian government to fight "tooth and nail" for tax reductions
Tax reductions will create the conditions for higher salaries in the private sector, to match the already evident rises seen in the public sector
News in Brief
Hungary implements largest VAT reduction in over a decade
Next year’s tax package will save every family 80-85,000 HUF each year