Hungary is working out a plot to strengthen its VAT registration threshold from HUF8 million to a hefty HUF12 million. This will be effective from 1 January 2019. The threshold will not be applicable for non-resident businesses, which must be registered at the time of their first taxable supply.
As the threshold agreed is more than that of Hungary’s in 2004, therefore, it needs to be endorsed by the European Commission.
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