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European VAT News

European VAT News – May 2021

By May 21, 2021December 22nd, 2021No Comments

The German tax authorities confirmed that the temporary VAT rate reduction on the supply of catering food services, from the standard rate of…

Germany 

The German tax authorities confirmed that the temporary VAT rate reduction on the supply of catering food services, from the standard rate of 19% to the reduced rate of 7%, will be extended to December 2022. 

It is hoped that this extension will help the hospitality sector recover from the impact of COVID-19.

 

Hungary

From April 2021, all businesses involved in Business to Consumer (B2C) sales in Hungary are required to report invoices under the country’s real-time e-invoice reporting regime.

Prior to April, only Business to Business (B2B) sales made in Hungary were required to report invoices under its real-time e-invoice reporting regime.  

However, by now extending this to consumer sales, it is hoped that it will help prevent VAT fraud that is prevalent in this area. 

 

The above information was kindly provided by Fiscal Solutions (UK), www.fiscalsolutions.co.uk; contact: contact@fiscalsolutions.co.uk.