The government of Hungary recently presented to the Parliament a draft bill with proposals for tax law changes which would take effect as from 2016. The proposed draft bill creates a classification system for taxpayers based on the level of risk presented by the taxpayer.
If approved, the draft bill would classify the taxpayers as ”reliable” or ”risky” based on certain criteria related to their operations and their tax and legal status.
The taxpayers classified as “reliable” would benefit from reduced tax authority deadlines in the case of tax audits and value added tax refunds. For “risky” taxpayers the tax audit deadlines would be extended and late payment charges, non-compliance and tax penalties would be increased.
The proposed draft bill also introduces certain changes to the stamp duty legislation. According to the draft bill purchasing of trucks, buses, and some trailers, as well as environmentally friendly motorized vehicles would be exempt from stamp duty from 2016.
