Hungary company car tax

Alessandro_Pasut_3

Hungary

The Hungarian Parliament adopted some modifications to certain tax laws.

Company car tax. The amendments refer to persons and companies permanently leasing an automobile subject to company car tax in relation to contracts effective from last July. In this way those permanently leasing an automobile would also be entitled to deduct the amount of company car tax from the amount of motor vehicle tax. Permanent lease status includes rental for an indefinite period or for more than a year, provided that the lessee is registered as the keeper of the car.

Value added tax. The modifications contain rules which aim at eliminating potential tax accumulation regarding the sale of automobiles which are subject to input VAT deduction bans. The new rules make the sale of automobiles VAT exempt not only if there was non-deductible VAT attached to the purchase of the automobile but also if there was no input VAT attached to the purchase of the automobile – but if there had been any then the person subject to VAT would not have been entitled to deduct it.

 

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