Hungary Adds Exemptions in EU VAT Bill in Bid for Agreement

Hungary has circulated a revised bill to overhaul the EU’s VAT regime in a renewed bid to get the bill approved by November.

In a document dated Oct. 18, Hungary, which holds the EU’s rotating presidency, amended the so-called VAT in the Digital Age bill, or ViDA, to include a clause that would allow the European Commission to evaluate the “effectiveness of VAT collection, and if deemed necessary, make an appropriate legislative proposal” by July 1, 2033.

Further, the revised proposal allows EU countries to “establish the conditions” under which they can exclude certain small ...