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COVID19 – Latest VAT updates Hungary – Greece – Norway

Nov 20, 2020 | COVID-19, VAT Updates

VAT Updates Europe

Norway – Reduced VAT rates to be continued

Norway decided to extend all reduced VAT rates previously set to expire by the end of October.  Passenger transports, overnight accommodation, public broadcasting, and access to cinemas, museums, amusement parks, and sporting events VAT had been previously reduced from 12 to 6%. This is to be extended till July 1st 2021.

Hungary – Real time reporting penalties waived

Hungary has decided not to apply penalties on real time reporting until the 31st of March 2021. This is a grace period given to VAT registered companies in Hungary due to COVID19. Taxpayers still need to submit the new XML but no penalties will apply for this during the first 3 months of 2021.

Greece – Reduced Rates and VAT exemptions

Imported goods related to COVID19 such as masks, respirators and disinfectants were to be VAT exempt till October the 31st. This exemption has been continued till the end of April 2021.

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