More changes in NETA rules from March

As of 1 March 2023 the government added a third exemption from the public health product tax (NETA) payment obligation: for products sold in the domestic market, which the buyer uses to make its own product on which the tax is levied and NETA is duly paid.

The previous two exemptions applied to NETA subject products sold either as ingredient or ready-made product outside of Hungary, but in the European Union. Owing to the new regulation, production costs become lower. The Hungarian Chamber of Agriculture (NAK) welcomes the easing of NETA rules. It must be noted though, that the exemption only applies if the buyer makes a declaration in advance and reports on meeting the criteria afterwards. //

This article is available for reading in Trade magazin 2023/4.