Hungary Tax Agency Issues Information Booklet Explaining VAT Rules for EU Intra-Community Transactions

The Hungarian National Tax and Customs Administration Jan. 23 issued Information Booklet Nos. 27 and 29, explaining the VAT rules for EU intra-community transactions. Topics covered include: 1) the VAT exemption on specific transactions for transfers of assets, and the VAT treatment of triangular transactions, exempting intermediate customers; 2) intra-community tax-free sales and the VAT treatment of purchases of goods within the community; 3) the taxation of chain transactions and cross-border services; 4) changes to intra-community distance selling rules; 5) special rules on determining the place of performance for services; 6) invoice issuance requirements; and 7) detailed information on community ...