Hungary tax agents for VAT recovery and VAT warehouse requirements

Sat 28th Dec 2013

There have been a number of further changes to the Hungarian 2014 tax Bill. The new changes to the Hungarian VAT regime include:

Foreign tax payers’ agents for VAT refunds

In accordance with the EU VAT Directive, EU companies without a permanent establishment in Hungary may now use local tax agents to represent them for the purposes of reclaiming VAT or submitting VAT credits. The agents will need an appropriate Power of Attorney to present to the Hungarian tax authorities.

Hungarian VAT warehouse rules

Non-established tax payers will be able to trade in customs bonded warehouses without the requirement to necessarily Hungarian VAT register. The principle condition is that the goods do not leave the warehouse, and that the company does not enter into any domestic supplies or intra-community supplies.