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In line with the latest summer amendment, the various types of transaction duty increase from August 1st, 2024, and the conversion duty will come into force on October 1st, 2024. In addition to the duties payable on financial transactions, the amount of tax fines that can be imposed by the National Tax and Customs Authority will also increase.

The new Act C of 2021 on the Land Registry will enter into force on October 1, 2024, and this will bring about a fundamental change in the procedures related to real estate transactions. The new legislation will allow for faster and more convenient administration, but it will also require legal entities and natural persons to use electronic signatures or Identification Based Document Authentication.

Based on the legislation adopted until the end of 2023, in our newsletter we summarize the amendments made to the Hungarian tax laws.

This summary only contains the major lines of the most significant amendments, due to the numerous detailed rules. The analysis of the details goes beyond the scope of this newsletter, however at your request we are standing at your disposal concerning their essential contents.

A new Hungarian law requires the introduction of an internal whistleblowing system for specific employers. In this newsletter we summarise the most important information on this.

Based on the legislation adopted at the end of November 2022, in our newsletter we summarize the amendments made to the Hungarian tax laws. This summary only contains the major lines of the most significant amendments, due to the numerous detailed rules. The analysis of the details goes beyond the scope of this newsletter, however at your request we gladly give further information about their essential contents.

At the beginning of November 2022, the Hungarian government issued new, temporary rules on the rate of late payment interest. In this newsletter we summarise the merits of this temporary legislation.

The COVID-19 virus has been part of our daily lives for more than two years. Employers tend to allow their employees to work from home office to adapt to the changes raised by the different waves of the pandemic. Below we briefly describe what rules the parties need to respect when agreeing on the possibility of working from home office.

Due to the pandemic, travelling possibilities are restricted, and the restrictions are holding back the flow of business. An electronic signature can be of great help in bridging this problem. Its use can facilitate the daily business life, but there are strict conditions for the validity of a signature, as the signature technically is not linked to the person using it, so the provability that the electronic signature was actually placed on the electronic document by an authorized person is particularly important.

On order to protect the working places against COVID pandemic, the Hungarian Government gave the right to require vaccination as a working condition from the employees by the Government Decree 598/2021. (X.28).

Due to the continuous development of technical possibilities and the pandemic situation, the use of various electronic services, including electronic signatures is becoming more and more popular.

In our newsletter we provide information about the possibilities and conditions of validity of electronic signatures.

The following is a summary of relevant amendments/innovations in 2021, with regards to (1) value added tax and corporate income tax, (2) small business tax and simplified entrepreneurial tax, (3) local business tax and (4) electronic public road trade control system.

As of September 1, 2020 the Government of Hungary prohibited the entry of foreign citizens into Hungary and prescribed a quarantine obligation onto returning Hungarian citizens.
In our newsletter, we summarise the rules of the exceptions that nevertheless allow the entry despite the general ban.

The following is a summary of relevant amendments/innovations which are expected in 2020, with regards to (1) value added tax; (2) corporate income tax; (3) personal income tax; (4) simplified entrepreneurial tax and small business tax and (5) some other areas related to accounting/administration.

In our newsletter, we would like to introduce the amendment of Act LIII of 2017 on the Prevention and Combating of Money Laundering and Terrorist Financing (the Act), which provides that the concerned organizations and financial institutions have received a grace period for client identification.

The most recent legislative changes due to the GDPR modified the rules of the application and operation of the surveillance system. Therefore, it might be appropriate to review the internal control standard concerning the camera surveillance.

We hereby present the amendments of tax legislation in Hungary which have taken effect in 2019 related to corporate income tax; value-added tax; personal income tax; fixed-rate tax of small taxpayer enterprises and small company tax.

On April 27, 2016, the new EU General Data Protection Regulation No. 2016/679 has been announced, which contains significant changes compared to the effective data protection reg-ulations. In the following summary, we will briefly present the most important provisions of the Regulation.

The Hungarian Parliament adopted Act V of 2013 on the Civil Code that is expected enter into force as of March 15, 2014. The present newsletter is divided into six sections about the most important changes of the law of obligations based on the new Civil Code.

On February 11, 2013 the Hungarian Parliament adopted Act V of 2013 on the Civil Code (hereinafter the „new Civil Code”) that is expected enter into force as of March 15, 2014. As a result, this new code will, after more than fifty years, replace Act IV of 1959 (hereinafter the „previous Civil Code”) as the new civil code regulating the basic property and personal relations of  Hungarian citizens.

The government elected in 2010 is undertaking far-reaching reforms in all fields of law. Some of the reforms have been introduced into the current Labour Code. We summarise the most important changes, first of all those that are already in effect, and finally those that are under preparation.