Parliament gives green light to tax package

The Hungarian parliament has given a green light to the 2018 tax package. The VAT on internet services reduces by 13 percentage points to 5 percent – this step will leave HUF 22 billon in the pockets of individuals and enterprises. The VAT on fish will be 5 percent, saving HUF 3.5 billion for consumers and probably popularising fish consumption to a great extent. From July 2017 craft breweries with a production capacity below 200,000 hectolitres will be entitled to a 50-percent excise tax credit. In the future it will be enough for enterprises to register at the National Tax and Customs Administration (NAV) and they don’t need to do the same at the municipality.