Special tax on retailers, returned

Pursuant to the Government’s decree promulgated on 14 April, special taxes imposed on retailers and banks, aimed at replenishing the Epidemiological Fund, will enter into force on 1 May 2020. For practical purposes, it is the old tax liability of retail chains that was revived now for the duration of the state of alarm. According to the new rules, retail sale activity will be subject to the tax again, but the scope of the tax is extended from 1 May also to the sale of goods by foreign persons or entities sold to customers in Hungary by any means other than through branches.

To read the whole newsletter below.