Tax Alert – Hungary – Tax on Compulsory Motor Vehicle Liability Insurance from 2019 Onwards
We can confirm that from the 1st January 2019 insurance premium tax will be applied on compulsory motor vehicle liability insurance contracts in Hungary under an amendment of Act CII of 2012.
The rate will initially be set at 23.00% with a maximum rate of 83.00HUF per vehicle/day. The filing schedule will be in line with the existing insurance premium tax requirements.
More details can be found following this link (changes have been marked in red for your convenience).
As always, if you have any questions please get in touch with a member of the team at firstname.lastname@example.org