NEWS
Establishing a regulated real estate investment company will be more popular
Setting up a regulated real estate investment company (“SZIT”) may gain popularity in Hungary due to favorable changes in legislation. The amended act clarifies what business activities may such companies perform; enables more flexible decisions on dividends; and...
New act on the protection of trade secrets
Innovative businesses are increasingly exposed to dishonest practices aimed at misappropriating trade secret, such as theft, unauthorized copying, industrial espionage or the breach of confidentiality requirements. To implement an EU Law from 2016, the Hungarian...
Posting of workers – applying the Law of the host country
As we reported before, an agreement has been reached between the European Parliament, the European Commission and the Council on the amendment of the regulatory framework for posted workers. On this basis the European Parliament has just adopted a new European...
Life after GDPR: Hungarian Data Protection Act amended
In order to comply with GDPR, the Hungarian Act on the protection of data has been amended in two steps. The first amendment dealt with the appointment of the authority and declared that it shall apply the “step-by-step” principle for imposing fines, whereas the...
Let your employees go – on vacation
Many employers make the mistake of not allocating vacation time of employees. According to the Hungarian Labour Code, vacation time shall be allocated in the year in which it is due. The Labour Code allows only a few exceptions to this regulation, such as, in case the...
ECJ verdict: Facebook page owners to face with qualification as data controllers
According to the definition of GDPR, data controller refers to the person who (alone or jointly with others) determines the purposes and means of the processing of personal data. It is therefore remarkable that the Court of Justice of the European Union announced a...
Tax package 2019: cutting on fringe benefits, more advantageous SME taxes, increasing dividend tax and default penalty
Next year all fringe benefits save for SZÉP card as well as many other tax-free allowances will be dissolved. Social and health-care contribution taxes will be aggregated which will cause an increase e.g. to the dividend tax, and from January the default penalty rate...
Travel contract rules have changed in favour of tourists
As from 1 July, 2018, travel contract rules have changed in favour of tourists thanks to a new EU Directive. Upon the implementation of the Directive, new rules apply concerning the information requirements and liability of tour operators. The Directive differentiates...
Supreme Court of Hungary verdict on the status of claims assigned prior to liquidation
During a liquidation procedure claims of SMEs have priority over other (non-secured) claims. In one of its latest decisions, the Supreme Court of Hungary has studied if there is any possibility to change a claim’s position if it was assigned to an SME and the obligor...
Real-time reporting on invoicing from July
Enterprises will be obliged from 1st July, 2018 to notify the Tax Office on each invoice, issued to a domestic taxable person, with a VAT exceeding 100,000 HUF. In case of invoices issued electronically, the information has to be sent real-time to the Tax Office which...