- Hungary clarified the VAT reverse charge mechanism for construction and installation services.
- VAT applies to purchases of these products and services from January 1, 2024.
- Reverse charge only applies if the service is related to real estate activities requiring an official permit or notification.
- The permit or notification does not have to be construction-related.
- Specific rules apply for determining the applicability.
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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