New companies have to file monthly VAT returns from 2015 in the first and second year (the quarterly return is no longer possible for starting companies) …
New tax law package published by the Hungarian Parliament
– New companies have to file monthly VAT returns from 2015 in the first and second year (the quarterly return is no longer possible for starting companies)
– Invoices having more than 1 MHUF (~EUR 3.300) VAT have to be reported in detail in the VAT return. However, it is possible to report all invoices regardless of the VAT amount (until now the threshold was 2 MHUF).
– An electronic road transportation control system (called EKAER) will be introduced from 2015. All goods transported by more than 3.5 ton vehicles within Hungary, from the EU to Hungary or from Hungary to another EU states have to be registered in the system by the sender, the recipient or both. There are special restrictions for the transport of hazardous products. EKAER reports are expected to serve as control data of VAT returns. The details of the new system shall be regulated in a decree which has not been published, yet.
Ákos Cseuz
Independent ABT Treuhand Group
