In case you wondered why Hungary does not need online cash registers in casinos, Economy Minister Mihály Varga explained just that in an interview with Heti Válasz published on Thursday.
Varga admitted in the interview that the EU’s highest VAT rate is a hotbed for abuse. This is the darker side of the problem, he said, adding that Hungarians’ ingenuity is manifested in this area too. In this respect he mentioned the implementation of online cash registers (linked directly to tax authority NAV) and plans to make their use obligatory also for select services, such as garages, gyms or massage parlours.
Varga said earlier this month that the regulation, which will have drycleaners, car mechanics, money changers and taxi drivers use online cash registers, would be put in place only on 1 January 2017 instead of the end of this September.
Varga also said in the interview, without even being asked:
Casino operators do not need separate online cash registers because already such data reporting requirements apply to them that practically let you know how many chips changed hands on which table.
This is a very interest remark considering what Varga said last December. In an interview he talked about plans to link casinos directly to NAV via online cash registers, although it turned out by March that casino owners used their lobby power effectively.
Read additional parts of the interview at the link below.
Charting is displayed using TradingView's technology, a platform, where you can build advanced charts,
spot upcoming trends in the stock screener, and find inspiration in multiple trading ideas
