The Hungarian government has issued a new decree doubling the fines that the tax authority (NAV) can impose. The decree was introduced in reference to the special economic situation caused by the war in Ukraine and is to remain in force until the special legal order is in place. However, it is also an obvious tool to further encourage companies to comply with the law.<\/p>\n\n\n\n
Under the new rules, natural person taxpayers can be fined up to HUF 400,000 and companies as taxpayers up to HUF 1 million. This penalty applies to cases such as incorrect, incomplete, false, late or non-compliance with tax obligations.<\/p>\n\n\n\n
The fine for undeclared employees will also double, from HUF 1 million to HUF 2 million.<\/p>\n\n\n\n
In addition, NAV can impose a default penalty of up to two million forints instead of one million for breaches of the rules on invoicing, receipts and document retention.<\/p>\n\n\n\n
The decree will enter into force on 1 August 2024 and will apply to breaches of obligations falling due after the date of entry into force of the decree. It is important to note, however, that these fines can be avoided by being careful and law-abiding.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Hungarian government has issued a new decree doubling the fines that the tax authority (NAV) can impose. The decree was introduced in reference to the special economic situation caused by the war in Ukraine and is to remain in force until the special legal order is in place. However, it is also an obvious […]<\/p>\n","protected":false},"author":24,"featured_media":4332,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"coauthors":[113],"class_list":["post-4331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n