Hungary Tax Agency Updates Guidance on VAT Return Filing Frequency

The Hungarian National Tax and Customs Administration March 12 updated Guidance No. 3003/2024, on the filing frequency for VAT returns for monthly, quarterly, and annual filers. The guide is updated in part to reflect the repeal of the simplified business tax under 2021 amendments. The updates include: 1) that taxpayers assigned community tax numbers and who are required to file annual returns, must also file quarterly returns if total tax from the beginning of the year is under 250,000 Hungarian forints (US$684), or if total consideration from sales of goods and services, without VAT, is no more than 50 million ...