Hungary within the European Union
Since 1 May 2004 when Hungary became a member of the European Union, there has been a lot of advantages worth to be highlighted with regard to EU companies purchasing products from another EU country. Cross-border trade has never been easier for companies within the member states, almost like buying from your home country. Below we made some points for those EU companies who are not yet familiar with purchasing from abroad.
- Zero value added tax (VAT)
When selling our products to a legitimate company within the EU we are not going to put VAT in our invoice. As a condition, the buyer need to present a valid EU Taxation number which we are obliged to verify at our local taxation office. If the given number and the belonging details are correct and correspond to the buyer, we can issue an invoice without VAT added.
- Low delivery costs
Many new road parcel transport companies emerged on the Hungarian market offering low-cost economical export deliveries within short time frame. The higher competition resulted in lower prices, as expected. Our preferred transporter for EU deliveries is DPD (Deutscher Paket Dienst), which appeared in Hungary in 2005.
- Zero custom-clearance costs
For trade between companies inside the European Union there is no custom duty and custom-clearance costs. This made transport less expensive and faster. Buyer only has to pay the net product price and delivery costs, there are no other charges or additional fees.
Why should you consider sourcing products from Panelectron in addition to the above points?
- No minimum-quantity orders demand you less investment and less risk
Unlike Far-East manufacturers we can sell even one unit to you, our prices are quantity-dependant. No need for keeping large stocks of various products.
- Low cost servicing / warranty returns
Although our products are proven and reliable, we also have to render a good after sales service together with servicing and repair. As delivery costs become low without tedious custom-procedures within the EU, our partners can easily return any faulty unit to us for inspection and repair. For further info on warranty please refer to our general warranty conditions.