Focusing on the provisions for a gradual phasing out of the crisis taxes levied on the country’s telecommunications, energy and retail sectors since 2010, the Hungarian Economy Ministry has recently submitted 2012 budget bill to the parliament.
The Hungarian VAT rate increases 2% to 27% and will be effective from 1 January 2012. This will give Hungary the highest VAT rate in the European Union, and one of the highest in the world. The rise comes as Hungary attempts to bring down its
A new and comprehensive Double Taxation Convention was signed between the UK and the Republic of Hungary in Budapest on the 7 September 2011. The convention replaces the 1977 agreement by the general OECD Model Double Taxation Convention. The latest
