The VAT Act offers a number of options for actors in economic life

When the basis of the VAT is determined in a foreign currency, in that case, the taxpayers must choose to use the exchange rate quoted in foreign currency as the selling price of the credit institution that has a currency exchange license in the country for the conversion to HUF. The official exchange rate of the Hungarian National Bank or the European Central Bank can also be selected from the time of registration or at the end of the following calendar year. (When making a decision, you must be aware that the exchange rate of the MNB or the ECB cannot be deviated from until the end of the calendar year following the year of the election.) When a company is founded, it is often automatically chosen to use the MNB exchange rate, but this exchange rate is not necessarily used in the accounting policy when starting the activity. in terms of bookkeeping. In such a case, in order to avoid the distorting effect of continuous exchange rate differences, it may be worthwhile to change the previously chosen VAT exchange rate at the end of the two-year prohibition period.