Companies with a Hungarian VAT number must submit periodic returns., All taxable supplies and costs are detailed in the return., Non-resident traders' returns are generally submitted monthly., Hungarian taxable persons must file quarterly tax returns., Taxable persons whose net VAT payable exceeds HUF 1m must file monthly., Taxable persons with EU VAT identification number may opt to file quarterly returns., Late submission of a VAT return attracts a maximum penalty of HUF 500,000 and late payment interest., If VAT is paid late, late payment interest is charged., If a return has been filed but the VAT liability is not reported, the penalty is 50% of the tax arrears, plus late payment interest., Late payment interest is not imposed if the taxable person is able to justify the default.

FILING VAT

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