In its latest decision of May 16, 2024 the European Court of Justice (ECJ) reflected on the Hungarian foreign VAT refund regime. ECJ established once again that non-compliance with formal requirements should not prevent reimbursement of VAT provided that substantive requirements can and have been satisfied.

Vasil Kisil & Partners has successfully represented Rost Agro in a UAH 33 million tax dispute before the Court of Appeal.

The Supreme Administrative Court (SAC) ordered the National Revenue Agency (NRA) to repay default interest charged on precisely defined and fully paid advance corporate income tax instalments that were not declared.

The announcements made by the Hungarian Government on 8 July 2024 envisage a number of new and higher payment obligations, as well as other public taxes and restrictions, that will include a defence contribution, increased administrative fines, extra profit tax, changes to social contribution tax on entering the labour market, transaction and currency exchange levies

A bill amending certain laws affecting the functioning of the state was adopted by the Parliament in the middle of June 2024. The bill postpones again the entry into force of the new Land Registry Act to 15 January 2025. In addition, the bill amends provisions in several different areas of law (e.g. health, education, immigration).

Finance Minister Mihaly Varga announced on 4 May 2024 that the Government will prolong the preferential VAT regime for new homes for an additional two years.