In 1988, Hungary introduced the Value Added Tax (VAT), locally referred to as Általános forgalmi adó (ÁFA). The primary legal framework governing VAT in Hungary is outlined in the Hungarian Act CXXVII of 2007 on Value Added Tax (Általános forgalmi adóról), as subsequently amended (referred to as the “VAT Act”). This Act aligns with the European Union’s (EU) VAT Directive, which, due to EU law’s supremacy, can supersede Hungarian VAT regulations.
Source: GVC
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