Hungarian Parliament considers tax law amendments to boost compliance and support businesses.

• Hungarian Parliament accepted Bill No. T/9724 to amend tax laws
• Measures include extending reverse VAT on gas sales
• Maintaining reduced 5 percent VAT rate for new homes until Dec. 31, 2026
• Preserving 12 million forints tax exemption limit
• Allowing retroactive VAT base reduction for non-invoiced transactions
• VAT exemptions for domestic and EU businesses with revenue under 100,000 euros
• Increasing penalties for non-compliance

Source: news.bloombergtax.com

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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