Tax office initiates removal of businesses from company register for failure to report

Issues

Hungary's tax and customs office NAV has initiated the removal of 35,000 businesses from the company register because they failed to prepare and submit an annual report, the daily Magyar Nemzet reported on Wednesday.

Companies not submitting a report can be fined as much as HUF 1.5 million as the result of regulations that came into effect this year.

NAV data show that the office has suspended the tax number of 64,000 businesses to date and initiated with the court the deletion of 35,000 businesses from the register because they did not make up for the failure.

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