VAT
Your accountant will regularly file VAT reports to the authorities, in which your (EU) VAT number will be indicated as well as the VAT payable and VAT reclaimable. The frequency of VAT reports depends on your trade volume or activity.
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When you open a Hungarian company, you immediately get an EU VAT number with it. But how can you use it to sell and acquire products or services within the EU without charging VAT on these sales?
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Value Added Tax, or VAT in Hungary is a consumption based tax, which is regularly added to the net price of products sold. If you have a company and you can reclaim VAT, its sum will matter to you. So let’s see the changes to VAT in Hungary in 2017.
The post How does VAT in Hungary change in 2017? appeared first on HELPERS.
Your accountants file a monthly or quarterly VAT report on your behalf. The frequency of VAT reports depends on your trade volume or activity. The report is filed by the 20th of the month following the relevant month or quarter. If your VAT reclaimable is more than your VAT payable, you can reclaim the difference in the VAT amount from the Tax Authority.
The post How do I reclaim VAT in Hungary? appeared first on HELPERS.
Taxation can be a complex matter. In order to best assist you, however, we need to understand the basics of your business operation. Still, you may find the following list of basic corporate taxes useful.
The post Hungary Taxation – Accountancy quick guide appeared first on HELPERS.
When you start your company in Hungary and issue your own invoices towards your clients, you will charge VAT only towards individual (retail) buyers. However, if you are an international trader, you may not charge VAT at all.
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