Starting from 1 July 2021, VAT will apply to all non-EU purchases. The regulation change will have a significant effect on distance sales into the European Union. In order to…
Category: VAT
VAT exemption of non-EU purchases ends in July
If you buy goods from outside the European Union often, you probably know that value added tax and customs duty do not apply to such purchases under a certain value.…
How and when to register a Hungarian VAT number
To do business in Hungary, you will most likely need a Hungarian VAT number. This number is used for invoicing and taxation purposes: to put it simply, it is what…
Tax refund at the customs check
Imagine that you are at Budapest Airport, waiting at the customs check and about to leave Hungary. As a non-EU resident, you are entitled to value added tax refund after…
VAT deduction in Hungary
When you are buying goods or services in Hungary, their price will most probably contain VAT. However, this VAT may be deducted from the VAT your own company is paying…