30 September – deadline for foreign VAT refunds expires

The deadline for submitting foreign VAT refunds for 2011 expires on 30 September 2012, which means Hungarian companies may reclaim the VAT on services and products purchased in other Member States of the EU until this date only. This is a strict deadline, and therefore reclaims may not be requested after the deadline expires. The procedure starts by submitting an “ELEKÁFA” form to the Hungarian tax authority electronically. The Hungarian tax authority makes a formal check and if everything is in order the form is transferred to the competent tax authority of the respective Member State. Completing the form takes a significant amount of time and it is easy for administrators without day-to-day experience of such procedures to make mistakes. Consequently, the clock is ticking to collect invoices which may contain foreign VAT not yet refunded, and submit the necessary forms with the help of professionals. If you have any questions on the above, please contact our colleague: andrea.linczer@wtsklient.hu

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