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Council Implementing Decision Published Authorizing Hungary VAT Registration Threshold Increase from 2019 — Orbitax Tax News & Alerts

The Council Implementing Decision to authorize Hungary's derogation from Article 287 of the VAT Directive (2006/112/EC) regarding its VAT registration threshold was published in the Official Journal of the EU on 8 October 2018. The decision authorizes Hungary to increase the VAT registration threshold to an equivalent in national currency of EUR 48,000 at the conversion rate on the day of its accession to the EU (~HUF 12 million). The authorization is effective from 1 January 2019 until the earlier of 31 December 2021 or the date from which EU Member States are to apply any national provisions that they are required to adopt in the event a directive is adopted amending the provisions of the VAT Directive on a special scheme for small enterprises.