The Hungarian National Assembly has considered the Bill to reduce VAT Rates on Specific Food Products that would enter into force on the 1st of January 2022. The Parliament considered the submitted bill which is entitled as “amending Act CXXVII of 2007 on the General Sales Tax to reduce the general sales tax on certain basic foodstuffs.“
In Hungary, Parliament is considering reducing VAT rates on Specific Food Products effective from January 1st, 2022
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Hungary
Author: Kristina Dosen
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General information
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1146
Content accuracy validation date:
23.12.2021
Content accuracy validation time:
10:25h
Firstly, let us remind you that in Hungarian fiscalization, the existing VAT rates are: The general VAT rate of 27%. And two reduced rates of 18% and 5%. The reduced VAT rate of 18% ( marked as B ) is applicable for some products (e.g. certain milk, certain dairy products, products made from cereals, flour, and starch).
According to the Hungarian Parliament Bill No. T/17515 the following are the products that made the list for VAT reduction:
- Salt
- Cereal groats and meals
- Milk and milk products
- Bread without added honey, eggs, cheese
- Natural honey
- Fresh vegetables, dried leguminous vegetables
- Fresh fruits, dried fruits
- Basic spices
These changes that are currently in consideration are a way to take the burden off from the citizens and are being considered by the Hungarian National Assembly according to Article 6 of Law on Value Added Tax from 2007. If applied, they will be in force from January 1st, 2022 without a defined ending deadline for now.
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