National Trade Association calls for till replacement subsidy

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Many SMEs could face financial difficulties if only companies with annual revenue of less than HUF 500m are eligible for the government's HUF 50,000 subsidy for installing cash registers meeting new reporting requirements, the National Trade Association (OKSz) said on Friday. National economy minister Mihály Varga said on Thursday that the government decided to offer some businesses a HUF 50,000 to replace their cash registers. He said the subsidies would be available to businesses with annual revenue of less than HUF 500 million, for no more than five cash registers per business. Businesses with cash registers with an online data connection have until May 1, 2013 to connect them to the tax office. Businesses with tills that record transactions electronically have until December 31, 2013 to replace their machines with ones with online data connections. However, they must supply NAV with till data on a monthly basis from July 1. Businesses may apply for the subsidies until October 31.

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