VAT in Hungary (ÁFA)
ÁFA is Hungary's value added tax on the sale of goods and services; its standard rate is 27 percent.
Updated:
Explanation
Under section 82 of the VAT Act (Act CXXVII of 2007) the standard rate is 27 percent of the taxable amount; goods and services listed in the Act's annexes carry a reduced rate of 18 or 5 percent.
Some transactions are exempt, and small businesses can choose the small-business exemption. Which rate applies to an item is always a question for your accountant.
How HelloTeam does it
In HelloTeam the VAT rate is your company's own default and can be changed per line; a 0 percent line asks for an exemption reason. Totals are rounded per line.
Module: Invoicing (€7.90 / month).
Sources
This is general information, not legal or tax advice. The rules come from: 2007. évi CXXVII. törvény az általános forgalmi adóról (Áfa tv.), Nemzeti Jogszabálytár (checked )