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Hungary’s tax office renounced of hundreds of million euros last year

Hungary’s tax office renounced of hundreds of million euros last year

National Tax and Customs (NAV) has renounced of more than two and a half billion euros of demand last year because of the “expected negative return”, as it is written in the tax office’s year book of 2016.

According to vg.hu, National Tax and Customs (NAV) has renounced of more than two and a half billion euros of demand last year because of the “expected negative return”, as it is written in the tax office’s year book of 2016. 57 percent of this sum is late refund and penalty, and almost 35 percent is VAT demand. This sum is four times the write-off of 2015, when NAV excused almost 507 billion euros for the same reason. One year earlier it was even less, 225 million, in 2013 it was 183 million, and in 2012 it was 225 million euros. These sums cover demands that will presumably not return in case of disposal.

Last year, NAV initiated half as many disposals as the year before, exactly 3835, and the sum of these companies’ tax debt was 671 million euros. It is only the third of the sum which the tax office has written-off last year as unrecoverable demand. Just for the sake of comparison: the tax office initiated 6851 disposals in 2015 and the companies had 845 million euros of debt, and NAV wrote-off 506 million because of expected negative return. One year earlier, there were 7167 with 951 million euros of debt, and the write-off was 225 million.

The disposals ordered by the judges decreased by almost two thousand since last year to 7936, while the number of forced cancellations decreased by more than six thousand to 19,595. At the same time, the number of liquidations increased in 2016: 9927 enterprises decided to be dismissed without any successor. These liquidations were involved in 15,5 million euros of debt.

Ce: bm

Source: vg.hu

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