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.