European Commission proposes extension for Hungary to allow 50% deduction of input VAT on car leasing.

• European Commission proposes extending Latvia’s authorization to restrict the right to deduct input VAT for passenger cars
• This restriction aims to prevent tax evasion and fraud in the automotive sector
• Latvia has been granted this authorization since 2013 and the Commission is proposing to extend it for another three years
• The decision will be finalized after consultation with other EU member states and the European Parliament.

Source: research.ibfd.org

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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