VATupdate

In Focus: Hungary – Taxpayers’ Categories

Just like in every jurisdiction, settling tax liabilities compliantly is important to avoid penalties and other consequences. But in Hungary there are additional benefits to a taxpayer if tax liabilities are settled as compliantly as possible.

As of 1 January 2016, Hungary introduced the so-called taxpayers’ qualification system. This means the Hungarian Tax Office (HUTA) qualifies its clients into three categories. The system covers all direct and indirect taxes.

Source: SOVOS

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