Changes from January 2018: VAT reclaim period
There is only 2 years left to reclaim VAT without self revision.
There was a change in section 153/A par. (1) of Law on VAT 2007. CXXVII. in 2016. Before this change the Companies could reclaim VAT without self revision within 5 years. Due to change in 2016 this period has been decreased to 2 years.
So this means that VAT reclaimable with performance date in 2016 could be deducted latest in December VAT return of 2017 or in Q4 VAT return of 2017 without self revision.
There are exemptions as always like EU purchases these are suggested to read through.
If you are interested in this topic please, contact our experts and we will provide you with further details.