The Hungarian tax authority has issued a notice on the new special VAT scheme for small businesses (the SME scheme) that applies from 1 January 2025 in line with Council Directive (EU) 2020/285 of 18 February 2020. Under the new scheme, small businesses established in the EU may, under certain conditions, opt for exemption in a Member State other than that in which they are established, by registering only in their Member State of establishment. This option is available if the taxable person…