A slew of changes to the law on value-added tax are being passed by Parliament. Among these are:
An easing of the cash flow burden posed by VAT on intra-community trade and imports from outside the EU;
a hike in administrative tasks for local companies;
the introduction of a new VAT grouping scheme and
positive changes in VAT regulations concerning call-off stock.
Lawmakers also reversed a regulation obliging foreign consignment stock companies to establish branch offices or subsidiaries when serving clients from Hungary.
The amendments will mostly take effect upon EU accession on 1 May.
