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EU ALLOWS HUNGARY TO MAINTAIN TWO TAX MEASURES UNTIL 2024

 

Hungary has been granted a derogation from European Union rules for two tax measures until the end of 2024, state secretary for tax affairs Norbert Izer said in a statement. Businesses will still be able to deduct half of VAT on rented cars, while buyers rather than suppliers will continue to pay VAT on purchases over 100,000 forints (EUR 277) if the supplier is under liquidation or undergoing bankruptcy, Izer said. “The government has successfully defended Hungarian interests in Brussels,” he added.