Hungary wants lower VAT on internet services

Interview

Hungary can only support a proposal to amend a European Union directive to allow reduced VAT rates for electronic publications if these cuts also apply to internet services, Minister for National Economy Mihály Varga told national wire service MTI after a meeting of EU finance ministers in Brussels on Tuesday.

The meeting of the Economic and Financial Affairs Council (Ecofin) debated a proposal to reduce VAT rates for electronic books, newspapers and periodicals along the same lines as physical publications.

The ministers also debated a proposal to allow member states to temporarily apply reverse VAT to domestic supplies of goods and services over a threshold of EUR 10,000.

Varga said the basic concept of the reverse VAT proposal would be useful in the fight against VAT fraud, but that Hungaryʼs interests have to be taken into account as the details are fleshed out.

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