Hungary Tax Codes
Tax codes determine how much tax is paid on each transaction line item. For NetSuite to calculate correct values on transaction records and tax reports, make sure that the tax codes for Hungary are set up correctly.
For more information about tax codes, see Tax Code Properties and Creating Tax Codes.
Important Things to Note
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The International Tax Reports SuiteApp only supports 139 unique tax codes per tax period for each country.
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You can use more than 139 tax codes for each country if these tax codes are not used in the same tax period.
Tax Code Table for Hungary
The following table shows the tax properties required to correctly generate the Hungary VAT reports provided by the International Tax Reports SuiteApp. The tax code names or letters presented in the table are suggested names or default system preferences. You can rename the tax codes if you want.
Tax reports identify transactions by looking at the tax code properties, not the tax code names. On the New Tax Code or Edit Tax Code page, check the boxes of the properties that apply to the tax code. For more information about tax code properties, see Tax Code Properties.
To understand how NetSuite uses the tax codes to get the values for the VAT Declaration Form 1165, see What goes into each box – Hungary VAT Report.
|
Tax Code |
Description |
Properties |
Rate |
Notional Rate |
Available On |
|---|---|---|---|---|---|
|
E-HU |
Exempt |
Exempt |
0% |
— |
Both (Sales and Purchases) |
|
ER-HU |
EU Sales and Purchases – Reduced |
EC Code Reduced Rate |
0% |
R-HU |
Both (Sales and Purchases) |
|
ES-HU |
EU Sales and Purchases |
EC Code |
0% |
S-HU |
Both (Sales and Purchases) |
|
ESSP-HU |
Purchase of services within EU |
EC Code Reverse Charge Code Applies to Service Items |
0% |
S-HU |
Both (Sales and Purchases) |
|
ESSS-HU |
Sales of services within EU |
EC Code Reverse Charge Code Applies to Service Items |
0% |
— |
Sales |
|
EZ-HU |
EU Sales and Purchases – Zero Rated |
EC Code |
0% |
E-HU |
Both (Sales and Purchases) |
|
I-HU |
Purchases outside of the EU (goods) |
Import |
0% |
S-HU |
Both (Sales and Purchases) |
|
IS-HU |
Purchases outside of the EU (services) |
Reverse Charge Code Applies to Service Items Import |
0% |
S-HU |
Both (Sales and Purchases) |
|
O-HU |
Sales outside of the EU (services) |
Reverse Charge Code Applies to Service Items Export |
0% |
— |
Both (Sales and Purchases) |
|
R-HU |
Reduced Rate |
Reduced Rate |
18% |
— |
Both (Sales and Purchases) |
|
RC-HU |
Reverse Charge |
Reverse Charge Code |
0% |
S-HU |
Both (Sales and Purchases) |
|
S-HU |
Standard rate |
— |
27% |
— |
Both (Sales and Purchases) |
|
SADV-HU |
Standard rate – Advances |
— |
27% |
— |
Both (Sales and Purchases) |
|
SFA-HU |
Standard rate – Fixed Asset |
— |
27% |
— |
Both (Sales and Purchases) |
|
SR-HU |
Special Reduced Rate |
Special Reduced Rate |
5% |
— |
Both (Sales and Purchases) |
|
X-HU |
Import Taxes |
Import |
27% |
— |
Both (Sales and Purchases) |