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Number of companies requesting extensions on tax payments declines

Banking

The number of Hungarian companies who opted for additional time to pay their taxes fell to 15,000 last year from the previous year’s 21,000, Hungarian economic daily Napi Gazdaság reported today.

The companies asked for additional time to pay back a total of HUF 104 bln in taxes, of which the majority was VAT. The paper noted that the National Tax and Customs Authority (NAV) approved about half of the requests.

The tax office receives approximately 50,000 requests from private individuals each year asking for more time to pay their taxes, of which NAV generally approves about two-thirds, the paper added.

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