Cash registers that do not have a valid distribution license may remain in use, the Minister of Finance Mihály Varga announced in his statement.
The Minister of Finance emphasized that the measure represents another financial and administrative relief for thousands of small businesses, which is especially important during the negative economic effects of the Russian-Ukrainian war.
More details are as follows.
Hungarian Ministry of Finance decides on a tax relief which is good news for thousands of small businesses
Public
Hungary
Author: Kristina Dosen
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Fiscal subject related
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368
Content accuracy validation date:
18.05.2022
Content accuracy validation time:
07:59h
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According to the announcement, the licenses of a total of 86 types of cash registers were revoked in 2017 and 2018, on which the manufacturers and distributors did not make the necessary improvements. The rules provided several years of preparation for the switchover and revoked cash registers could be used for five years. However, the majority of stakeholders are small businesses, for whom the acquisition and commissioning of new cash registers would be not only an administrative but also a significant financial burden, so allowing them to continue using old cash registers is important tax relief for them. An online data connection is also provided at these cash registers, the tax office's risk analysts are still seeing these funds, so their role in whitening the economy will not be compromised, they said. Legislative changes to help small businesses are currently being prepared, as was said by the authorities.
Previously, we wrote about this topic and the cash register's revocation. What is now known is that it is estimated that 3-4 thousand cash registers may still be in use, but will soon have to be replaced in the absence of a valid distribution permit.
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