Year-end Tax Changes In 2024, Part 3

VAT changes

On 21 November 2023, bills T/5893 “on the amendment of certain tax laws” and T/5877 “on additional taxes to ensure a global minimum tax level and amending certain tax laws in this context” (hereinafter jointly: the Autumn Tax Package) were submitted to the Parliament of Hungary. The Autumn Tax Package proposes to make comprehensive changes to the Hungarian tax system and introduces a number of new legal institutions. To give you a more detailed and comprehensive picture of the changes, the Autumn Tax Package is presented in a series of professional articles, the present, third part of which covers the changes affecting VAT (the first part on corporate income tax can be found here, while the second part on tax administration here).