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Hungary Reintroduces a Temporary Retail Turnover Tax to Fund Economic Action Plan for COVID-19 and Intends to Make it Permanent

|Approved Changes|Hungary
Hungary

Hungarian Government Decree 109/2020 of 14 April 2020 entered into force on 1 May 2020 and provides for the (re)introduction of a retail turnover tax that applies for retail sales, including online retail sales by non-residents. The tax is meant to fund the economic action plan for COVID-19 and is levied at progressive rates based on the amount of annual net retail turnover in the previous yea…

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