Translation of "Default penalty" in German

In addition, the tax authority may also decide to levy a default penalty and a default charge.

However, caution is advised and you are better to check the documentation prepared by your parent company, since even one missing element can provide an excellent reason for the tax authority to levy a default penalty.

Only after our comments submitted to the report did they accept our explanation that the words Cologne and Köln, which is the Hungarian name of the city, mean the same place, and a city name given in another language should not constitute a valid legal reason to impose a default penalty.

It is really important to comply with the above obligations on time and with the right data, since failing to meet the CbCR obligation, provide the data or report any changes, and the delayed or incorrect execution thereof, may result in the tax authority levying a default penalty of up to HUF 20 million (roughly EUR 62,000) on the obliged party.

The NAV categorises any taxpayer registered in the company register or for VAT purposes and not subject to insolvent or solvent liquidation as risky if their registered office is registered at a provider of registered office services, and they received a legally binding default penalty for hindering tax authority procedures in the reporting year or in any of the three prior years.

Unreported goods may be confiscated, and a default penalty of up to 40% their value may be imposed.

The national tax and customs authority shall communicate its decision on imposing the default penalty to the taxpayer or its representative, authorized agent or employee being present, and then, as from the moment of its communication, the decision shall become enforceable, irrespective of any possible appeal.

The ceiling on the default penalty levied in these cases is calculated by multiplying the number of affected invoices and documents qualifying as invoices with the maximum penalty rate otherwise generally applicable for the taxpayer.

In practice, the first letters of formal notice are generally received by taxpayers operating according to a normal financial year around late July or early August, and the default penalty also appears on their tax account at this time.

Presumably as part of the customer-friendly NAV concept, even rules effective until the end of 2018 enabled taxpayers not obliged to register a company (mainly private individuals) to be exempt from a default penalty in the event of a default, even if they fail to rectify the problem despite being called upon to do so by the tax authority.

In Hungary, however, legal consequences (tax penalty, late payment interest, default penalty) always have to be charged to the profit in the year when the finding was made, so the amount is ignored when the error is qualified.

In principle this means anything up to HUF 500,000, or roughly EUR 1,600, and a separate default penalty can be imposed for unfiled tax returns.

Based on the above, we made a recommendation to the Ministry for National Economy that the default penalty rules be reconsidered, taking into account the cases where ownership of the product is not transferred to the taxpayers subject to reporting obligations for the transportation, contract work or import for other purposes.

The legal consequence of failure to comply with the reporting obligation associated with activities involving road transport, as well as the reporting of incorrect, untrue or incomplete data shall be that the unreported goods shall be deemed of unconfirmed origin, and the national tax and customs authority may impose a default penalty amounting up to 40% of the value of the unreported goods.