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Food and Drink Vending Machines Connected To Tax Authority; Extended Deadline for Online Cash Registers

Food and Drink Vending Machines Connected To Tax Authority; Extended Deadline for Online Cash Registers

Hungary
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From 1 January 2017, food and drink automatic vending machines shall be connected to the Hungarian tax authority’s system.

The tax authority will receive the sales data of food and drink vending machines through a special electronic device to be installed to the machines by a service provider registered by the authorities. Food and drink vending machines could be exempted from the data provision only if the service provider declares that the special electronic device cannot be fixed in the machine.

In addition, the deadline of 30 September 2016 for the obligation to use online cash registers for service providers pursuing activities such as vehicle, motor bicycle repair and maintenance, motor bicycle accessory retailing, catering, accommodation, rental and laundry service providers, discotheque operators as well as fitness centres and plastic surgeons, has been postponed to 1 January 2017. The previously set (second) deadline of 1 January 2017 for taxi drivers and currency exchange service providers has remained unchanged. 

By Gabriella Galik, Partner, KCG Partners Law Firm

Hungary Knowledge Partner

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

Firm's website.

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