Hungary: Real Estate Tax Adjustments
As of 1 January, 2023, new VAT rules have been implemented, bringing significant changes to Hungary's real estate sector.
Analysis by LeitnerLeitner
As of 1 January, 2023, new VAT rules have been implemented, bringing significant changes to Hungary’s real estate sector. The definition of “new real estate” for tax purposes now includes existing properties that are used as intended within 2 years of renovation, accompanied by official certification.
This has implications for VAT liability and taxes related to properties under construction. Additionally, various other construction and real estate taxes have been extended, and housing subsidies are now available for both buyers and builders.
Experts from our Hungarian firm, LeitnerLeitner, analyse these changes to Hungary’s real estate tax regime here.
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