25% Of VAT May Be Lost To Fraud In Hungary

  • 5 Feb 2015 8:00 AM
25% Of VAT May Be Lost To Fraud In Hungary
Some 16% of VAT is lost in EU member states, but the figure could be 25% in some East European countries, including Hungary, Together-Dialogue MEP Benedek Jávor said Wednesday at a European Parliament conference on VAT fraud.

Former tax official András Horváth said VAT fraud costs the Hungarian government about Ft 1 trillion annually.

The tax authority only scratches the surface in its inquiries instead of attempting to uncover the complex system of fraud, he added.

Source: Hungary Around the Clock

This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC follow this link and click on 'Free Trial Subscription'.

  • How does this content make you feel?

business CHANNEL SPONSOR

Share your story

We're interested in your stories, and photos, related to expat life in Hungary. Your contributions, and Press Releases, are invited for review before publication in the loop.