Hasznos

With the agreement of the finance ministers, the tax administration will be simplified and the competitiveness of the EU will be improved

At the meeting of the EU finance ministers, they put an end to a tax agreement that could

significantly improve the competitiveness of the European Union, the finance minister

announced.

The concluded tax agreement means easier administration for Hungarian companies on the

one hand, and can bring fairer competition on the other. With the simpler administration, in

the future, companies entering the foreign market will be able to complete tax declarations

and pay taxes to other member states through their own tax authorities, and it will be

enough for a company to register digitally in an EU member state. From then on, you can

also fulfill your VAT payment obligations of other member states from this one EU member

state.

The agreement also brings fairer competition: it also includes digital platforms in the

payment of VAT, so that, for example, platforms operating in short-term accommodation

services and passenger transport must also pay VAT.

Service providers taxed with subject tax exemption will not be affected by the change, they

will still be able to pay tax at a reduced rate.

Source: Accounting Practice