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., .

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