• Coronavirus in Hungary
  • Budapest
  • Hungary border control
  • HelloMagyar
EnglishFrenchGermanSpanish
EnglishFrenchGermanSpanish
Hungary’s tax office renounced of hundreds of million euros last yearHungary’s tax office renounced of hundreds of million euros last yearHungary’s tax office renounced of hundreds of million euros last yearHungary’s tax office renounced of hundreds of million euros last year
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Breaking News
Support us
Gergely Lajtai-Szabó Gergely Lajtai-Szabó · 19/05/2017
· Business

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

economy tax/VAT
tax money office nav vat

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

economy tax/VAT
Share
Gergely Lajtai-Szabó
Gergely Lajtai-Szabó

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.

Latest news
  • What happened today in Hungary? – 3 February, 2023
  • Court: Hungary responsible for the death of a 22-year-old Syrian migrant
  • 510 EUR/month – would you work for that in Hungary as a university teacher?
  • Wizz Air considerably changed its summer schedule, ticket prices expected to grow
  • PHOTOS: you can meet with Hungarian international chess grandmaster here
  • Hungarians living in Ukraine in danger? Anti-Hungarian mood, enforced military conscriptions, atrocities
  • Orbán government moves away from Budapest
  • PHOTOS: Construction of the New National Gallery in Budapest can start soon

About us

Contact us

Copyright rules

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V