Hungary Tax Agency Clarifies New Cross-Border Tax Exemption Rules for Small Businesses

The Hungarian National Tax and Customs Administration Dec. 9 clarified new cross-border tax exemption rules for small businesses. The clarification includes: 1) that small businesses within the EU can benefit from VAT exemptions across EU countries without separate VAT registrations, effective Jan. 1, 2025; 2) the VAT exemption qualification that requires small businesses to have EU-wide revenue under 100,000 euros (US$105,300), and meet country-specific VAT thresholds, such as Hungary’s 12 million Hungarian Forint (US$30,811); 3) the procedure to obtain a unique identification number with the “EX” suffix and the cases where it can be revoked; 4) the procedure to submit ...