Who is required to register VAT?
- import goods to Hungary,
- sell or purchase goods within the framework of intra-Community supply of goods,
- buy or sell goods in Hungary,
- store goods in Hungary with the purpose of further resale,
- sell goods online directly to Hungarian consumers (registration is required when the annual sales value exceeds the threshold set by Hungarian authorities),
- organize live events in Denmark, such as shows, conferences, etc.
Monthly VAT declarations must be submitted following the closing of the reporting period. Annual declarations must be submitted by the 25th of February the following year. All payments must be made by the day of the declaration and in Hungarian forints (HUF).
Entities selling goods or services in Hungary should issue invoices meeting certain criteria. VAT invoices must include the following information:
- VAT identification number,
- the amount subject to taxation, in accordance with the appropriate VAT rate,
- the applicable VAT rate,
- VAT amounts divided into particular rates,
- total VAT amount,
- reference to the appropriate article of the EU VAT Directive regarding the given transaction type,
- VAT identification number of the customer.
Distance selling threshold: HUF 8,800,000 (EUR 28,451)
Currently, VAT rates in Hungary are:
- 27% – basic rate
- 18% i 5% – reduced rates
Services we provide in this country:
- VAT Registration
- VAT Settlements
- VAT Consulting