Open AccessHungarian Government on the Whitening of the Economy Measures to Stabilize the Budget
Author(s) -
Péter Novoszáth
Publication year - 2021
Publication title -
urban studies and public administration
Language(s) - English
Resource type - Journals
eISSN - 2576-1994
pISSN - 2576-1986
DOI - 10.22158/uspa.v4n4p1
Subject(s) - taxpayer , government (linguistics) , business , obligation , cash , compliance (psychology) , control (management) , accounting , balance (ability) , finance , public economics , economics , law , political science , medicine , psychology , social psychology , linguistics , philosophy , management , physical medicine and rehabilitation , macroeconomics
The Hungarian government developed a package of tools for improving legal control and compliance for Hungarian companies and entered into force between 2012 and 2021. Part of this complex package of measures sought to broaden the tax base without raising taxes, while others sought to reduce the size of the black economy by reducing the amount of illegally available benefits. The level of compliance may increase, as inspections are continuous, the risk of failure is high, and compliance with legal actions does not require a large intellectual or financial expense from the taxpayer. Part of this package was the obligation to use online cash registers, the introduction of reverse charge VAT, the targeted reduction of VAT rates, the introduction of an electronic goods tracking and verification system, and the introduction of online invoicing.