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Hungary â Reverse VAT derogation for staffing firms to end (MTI-Eco)
12 March 2021
A derogation from the European Union rules that allows the application of a reverse charge mechanism for staffing firms will no longer be applied from 1 April state secretary for tax affairs Norbert Izer told MTI-Eco News (paywall). Izer noted that Hungary has twice applied for, and been granted, the derogation allowing reverse VAT which is the practice of obliging the buyer, rather than the seller, to pay VAT, for staffing firms since the end of 2015. The applications were made in the interest of cracking down on VAT fraud, Izer added. Hungary s latest request to continue the derogation was rejected after the European Commission argued the intended improvement in tax compliance had been achieved. Izer said the rate of VAT fraud among staffing firms had been cut from 15% in 2015 to under 5% in 2019. He added that rate could be reduced further, even without the reverse charge mechanism.