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Summary 35 posts

CBAM: what you need to know

In 2024, numerous companies in Hungary are required to make a CBAM declaration, based on a European Union regulation* adopted in 2023, regulating a mechanism to offset the carbon intensity of imported goods. There are still many unanswered questions regarding the obligation known as the carbon duty. Yet, CBAM will be a new, long-standing, and challenging obligation.

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EÁFA (eVAT) M2M – What Needs to be Done Before the Introduction of the Electronic VAT System in 2024?

In 2024, the Tax Authority of Hungary (NAV) will make an innovative step in the field of VAT declarations with the introduction of eÁFA (or eVAT),which will base declarations on data instead of the previously accustomed aggregated data. In order to simplify their VAT declarations and reduce administrative burdens with the help of eVAT M2M, companies must undertake several important steps.

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The Mandatory Deposit Return System (DRS) and VAT

From January 1, 2024, the deposit return system for mandatory deposit fee products marketed domestically, the DRS, will be implemented. The mandatory deposit fee system imposes tasks on both manufacturers and distributors, and due to the introduction of the DRS, the summer tax package also amended the VAT law effective from January 1, 2024. In the following blog post, we will present the most important VAT-related effects of the new DRS system.

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VAT implications of event management - A non-resident company organises an event in Hungary

In this blog, we will look at what a foreign event organiser needs to bear in mind when the event requires personal presence and takes place in Hungary. There are a number of factors to be considered in connection with a Hungarian event of a non-resident company, from the VAT registration and tax liability to the invoicing and declaration of transactions and the recovery of the VAT content of the costs incurred.

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Petra Palicz
VAT

Hungarian VAT implications for UK taxpayers

UK companies have no longer been subject to EU VAT laws since 2021; therefore their Hungarian tax liabilities are governed by different rules. How can VAT regulations be interpreted in this new situation and what have taxpayers experienced since Brexit? In our blog post below we have summarised the most important changes from a VAT perspective.

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Petra Palicz
VAT

Five cases where VAT is payable abroad

A number of Hungarian businesses are involved in international trade, including intra-Community supplies of goods, import of goods from third parties or supplies of services abroad. For cross-border transactions, a key aspect that should be examined is whether there is a requirement to register for VAT abroad and whether any VAT liability arises abroad. In this blog entry we present five cases where companies are required to pay VAT abroad in connection with cross-border transactions.

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Petra Palicz
VAT

VAT implications of the “Buy Now, Pay Later” arrangement

Recently, the so-called BNPL service, which stands for \"Buy Now, Pay Later\", has become increasingly popular. Although digitalisation and COVID-19 have accelerated the spread of this interest-free, deferred or instalment payment facility, the Hungarian Tax Authority has not yet developed a uniform practice on the correct VAT treatment of BNPL services. Please note that the VAT treatment of BNPL services can vary under Hungarian legislation, so it is important to be familiar with the rules.

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