Business Chamber recommends raising VAT threshold immediately

The Hungarian Chamber of Commerce and Industry (MKIK) recommended the government raise the annual revenue threshold for VAT exemption immediately in a statement issued on Thursday.

MKIK acknowledged that National Economy Minister Márton Nagy had signaled the government’s intent, earlier in the week, to raise the VAT exemption threshold to HUF 18 million, but said no details had been revealed.

MKIK proposed a gradual increase of the threshold.

The chamber proposed raising the VAT exemption threshold from HUF 12 mln to HUF 15 mln from January 1, 2025 and to HUF 18 mln from January 1, 2026.

Source: Budapest Business Journal