Businesses may be eligible for e-till installation subsidy

Banking

The Hungarian government is planning on offering subsidies for businesses that will be required to install electronic tills connected to the National Tax and Customs Authority (NAV), deputy state secretary for tax affairs Zoltán Pankucsi told Hungarian economic daily Napi Gazdaság.

In an attempt to crack down on tax evasion, the Hungarian government recently mandated businesses to install electronic tills that directly communicate with NAV, and the government is expanding the types of businesses required to do so including cosmeticians, hairdressers, fitness centers and taxis, the paper added.

Pankucsi said the draft legislation on the measure was essentially ready and could be passed by Parliament in just a few weeksʼ time.

An increase in the types of local businesses obliged to use tills directly connected to Hungarian tax office NAV would require the installation of more than 70,000 such devices, according to Jenő Madarász, managing director of Alt Cash, which sells the tills.

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