Businesses established in Hungary have until 30 September 2022 to reclaim foreign VAT. This means that companies may apply until this deadline for a refund of value-added tax charged by a foreign country on supplies of products and services in another Member State, or on product imports into the given Member State of the European Union in 2021. Taxpayers lose this right after the deadline expires, so the tax authority will automatically reject any application received after the deadline.
Reclaiming foreign VAT in Hungary: important deadline set by NAV approaching
Public
Hungary
Author: Kristina Dosen
Category:
Fiscal subject related
Views:
467
Content accuracy validation date:
31.08.2022
Content accuracy validation time:
08:17h
Content
Reclaiming foreign VAT happens when taxpayers established in Hungary do not receive a VAT-free invoice on services used abroad and goods purchased abroad in certain cases, but one that includes the local VAT (e.g. VAT on accommodation, food, taxi fares, tool costs). In such cases, Hungarian taxpayers may reclaim the foreign VAT included on the invoice (to the extent the supply of goods or services was used for the purpose of their taxable business activities).
However, this foreign VAT is not reclaimed in the Hungarian VAT return, but by filing a separate application. Different procedures for countries within and the ones outside the EU. Among other differences, the deadline may differ from 30 September for refunds from countries outside the EU.
The refund period specified in such applications must not exceed one calendar year, and must not normally be less than three months. These applications also come with minimum refund amounts. The refund amount cannot be less than EUR 50 for an annual application, and EUR 400 for a three-month application.
Other news from Hungary
What can we expect from the Hungarian Tax Authorities’ system in the e-cash register project?
Public
Hungary
Author: Kristina Dosen
Hungary
Author: Kristina Dosen
As Hungary introduces new e-cash registers, the Tax Authority (TA) unveils an advanced, user-friendly service for managing receipts that will come with it, the e-receipts. The system is designed to accept e-receipts submitted to the TA within a 0–24 hour window, ensuring a non-stop, seamless service for both businesses and consumers. In this digital leap, the e-cash registers will send only valida... Read more
New document was uploaded: Recorded webinar: The introduction of the e-receipts and new e-cash registers in Hungary
Hungary
Author: Kristina Dosen
On April 9, 2024, Fiscal Solutions organised a free webinar on the topic of "It’s time to grow together." The webinar was held by Fiscal Solutions Legal Consultant Tara Nedeljkovic and Technical Consultant Istvan Bozoki. Read more
New document was uploaded: The translated Draft Decree of the Minister of Finance on the distribution and operation of e-cash registers and the requirements concerning e-cash registers and th
Hungary
Author: Kristina Dosen
This document is a translation of the Draft Decree issued by the Hungarian Minister of Finance on the distribution and operation of electronic cash registers (e-cash registers) the requirements for e-cash registers and the issuance of electronic receipts (e-receipts). Read more
New document was uploaded: Draft Decree of the Minister of Finance on the distribution and operation of e-cash registers and the requirements concerning e-cash registers and the issue of e-re
Hungary
Author: Kristina Dosen
This document is a comprehensive draft decree issued by the Minister of Finance on the distribution and operation of electronic cash registers (e-cash registers) the requirements for e-cash registers, and the issuance of electronic receipts (e-receipts). Read more
Marked returnable bottles hit the shelves in Hungary. What do you need to know?
Hungary
Author: Kristina Dosen
The first bottles with special returnable marks appeared on store shelves in Hungary recently. These products have already been anticipated by environmentally conscious customers. For these goods, traders are obliged to charge a redemption fee of HUF 50. The fee (and a way to recognize such products) is clearly indicated on the price label of the product, both on the bottle and in the description below, so a customer can see which product is returnable. Read more
New document was uploaded: Recorded webinar: It’s time to grow together
Public
Author: Kristina Dosen
In this discussion, we have introduced our new partner program and what is essential for international growth, while dealing with topics such as - Success factors for POS applications - What does globalization mean? - How to grow globally? Furthermore, we presented benefits for our partners. Last but not least, we presented our fiscal cloud architecture and its important features.You can down... Read more
The benefits and challenges of introducing the ePG system for electronic receipts in Hungary
Public
Hungary
Author: Kristina Dosen
Hungary
Author: Kristina Dosen
A plan to reform the current cash register system has been on the agenda for years, and concrete legislation has already been formulated in the recently adopted tax package. Using the new e-cash register system (ePG system), it will also be possible to provide receipts in electronic form, which consumers can access via an application. The ePG system could bring about a significant breakthrough in... Read more