Regulatory update

March VAT Update: Hungary

09 March 2015

Hungary simplifies EKAER system used to control commodities’ movement

Countries:

Taking into account that EKAER has been new system, it could be expected that some amendments will have to take place.

With the effect from 1 March 2015 entities which:

  • are transporting goods not listen as fraud-sensitive,
  • have the operating revenue for last two years exceeding HUF 300 billion,
  • net sales revenue derived from the entity’s own products exceeded 80% in last two years,
  • do not have any public debts in Hungary,
  • never experienced suspension of tax identification number

can benefit from simplified reporting in EKAER.

Unfortunately due to requirements stated above, simplifications cannot be used by companies not established in Hungary (even if VAT registered in this country).

Similarly, entities registered for VAT in Hungary but without registered address in that country cannot benefit from exemption from guarantee required to join EKAER.

Insights and updates delivered to your inbox.

Sign up to receive a weekly round up of posts that matter most to you. 

Sign up now