Refunds
As a fallout of the current war between Ukraine and Russia, the Central Bank of Hungary (Magyar Nemzeti Bank or MNB) has recently announced that Sberbank Hungary will be liquidated. Bank deposits are insured by OBA and will be returned to customers; corporate customers should find a new financial provider as soon as possible. So …
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Imagine that you are at Budapest Airport, waiting at the customs check and about to leave Hungary. As a non-EU resident, you are entitled to value added tax refund after your purchases made in the European Union. However, the conditions are quite complex. The regulation (see the European Commission’s website for more information) focuses on …
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