VAT Returns – Hungary

Hungary

VAT Name :
Altalanos forgaima ado (AFA)

VAT Number Format :
12345678 (8 digits)

VAT Information Offices :
Nemzetgazdasagi Miniszterium H – 1369 Budapest Pf. 481

RATES

RateTypeWhich goods or services
27%StandardAll other taxable goods and services
18%ReducedCertain foodstuffs; Some takeaway food; Admission to certain open air concerts; Hotel accommodation (until 31.12.2019)
5%ReducedCertain 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%ZeroIntra-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 38.900 (HUF 12 million)
Distance Selling Threshold : EUR 35.000
Dispatches : HUF 170 million (simplified) or HUF 5 billion (full)
Arrivals : HUF 100 million (simplified) or HUF 14 billion (full)
Intra-Community Acquisition Threshold : EUR 10.000
VAT Free Shopping for Tourists : EUR 162

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