Customs

2023.11.15Customs VAT

The Mandatory Deposit Return System (DRS) and VAT

From January 1, 2024, the deposit return system for mandatory deposit fee products marketed domestically, the DRS, will be implemented. The mandatory deposit fee system imposes tasks on both manufacturers and distributors, and due to the introduction of the DRS, the summer tax package also amended the VAT law effective from January 1, 2024. In the following blog post, we will present the most important VAT-related effects of the new DRS system.

István Falcsik

2023.11.03Customs Tax

Deposit Return System (DRS) - November 15 is the deadline for compulsory registration!

Hungarian Companies have barely recovered from the first ordeal of Extended Producer Responsibility (EPR) obligations, and now they are confronted with the next challenge affecting waste management, the new mandatory Deposit Return System (DRS). Although the DRS is expected to impact fewer operators, it could pose a much greater challenge than the EPR. The official launch of the mandatory deposit return system is on January 1, 2024, with the obligation for distributors of affected products to register by November 15, 2023.

István Falcsik

2023.06.08Customs

High new EPR fees announced

On 2 June 2023, the Extended Producer Responsibility (EPR fee) rates were published in Hungary. As expected, the EPR fees payable by companies are significantly higher than the previously established environmental product charges for the same and similar product streams.

István Falcsik

2023.04.24Customs

EPR fee: double administrative burden for companies – the registration deadline is approaching

The extended producer responsibility (EPR) scheme, which is to be launched in July 2023, will bring greater changes to entities\' lives than many people expect today, but at the same time with the deadline approaching there is less time to prepare. While there are still many unclear issues, it is certain that the new EPR will place a significant additional administrative burden on a lot of companies subject to the fee, as the obligation to pay the environmental product charge will not be abolished.

István Falcsik

2017.01.26Customs Tax

The UK leaves the customs union – „Hard” Brexit

In her last speech on the termination of the EU membership of the United Kingdom, Prime Minister Theresa May said she envisaged full departure from the EU and did not intend to keep certain elements of EU membership. „We do not seek to adopt a model already enjoyed by other countries. We do not seek to hold on to bits of membership as we leave.”

István Falcsik

2017.01.10Customs Tax

Attention, importers! Transfer price has an effect on customs duty

When determining and changing transfer prices, entities importing from related parties do not only have to pay attention to accounting, transfer pricing, (import) VAT but also to their customs processes, with special regard to liabilities.

Blog

Blog

The Mandatory Deposit Return System (DRS) and VAT

Deposit Return System (DRS) - November 15 is the deadline for compulsory registration!

High new EPR fees announced

EPR fee: double administrative burden for companies – the registration deadline is approaching

The UK leaves the customs union – „Hard” Brexit

Attention, importers! Transfer price has an effect on customs duty

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