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Hungary: Updated VAT Filing Guidelines and Repeal of Simplified Business Tax

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On March 12, the Hungarian National Tax and Customs Administration updated Guidance No. 3003/2024 regarding the filing frequency for VAT returns, reflecting amendments made in 2021, particularly the repeal of the simplified business tax.

 

The updates include:

 

1) the requirement for taxpayers assigned community tax numbers to file quarterly returns if their total tax from the beginning of the year is under 250,000 Hungarian forints, or if their total consideration from sales of goods and services, without VAT, does not exceed 50 million forints  annually; and

2) technical modifications.

 

The guidance became effective on March 15.

 

Source: gov.hu

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