NEWS
Stock exchange for SMEs to kick off soon in Hungary
Last autumn, the Budapest Stock Exchange (BÉT) launched Xtend, an alternative trading platform to help financing mid-size enterprises. The project is in progress, BÉT is now monitoring companies whose shares will be traded with expectedly from Q4. We summarized what...
GDPR step-by-step – part 3: Data Protection Impact Assessment
We continue our series trying to prepare enterprises to the challenges of the new General Data Protection Regulation of the European Union to be applied from 25th May 2018. In this issue, we analyze in which cases a controller shall carry out Data Protection Impact...
‘Downturn in business’ might not be considered as clearly specified ground of termination
The termination of employment initiated by the employer is often reasoned with unfavorable business results. A verdict of the Supreme Court clarifies, however, that the exact wording of such reasoning could be crucial. According to the underlying case, the employee...
Agreement on changing European rules on posted workers
The European Parliament, the European Commission and the Council representing the governments of the Member States have achieved an agreement on the revision of the Posting of Workers Directive. The European Commission initiated negotiations over the amendment of the...
EU to eliminate territorial restrictions on webshops
Geographically-based restrictions on webshops operating in the European Union will be illegal, i.e. websites may not reject orders from consumers based on their citizenship, residence or location and may not redirect them to other websites in the future. The European...
New recommendation from Hungarian Data Protection Authority concerning data processing on websites
The Hungarian Data Protection Authority (NAIH) issued a recommendation for website owners on requirements as to the level of security and privacy policies disclosed pertaining to the processing of personal data. Most of the websites – directly or indirectly – collect...
Heavier fines to come from the Competition Authority
The Hungarian Competition Authority (GVH) issued a statement recently on changes in its method to establish the amount of fines. The bottom line is that companies can expect heavier fines but the authority is willing to offer many options to reduce the fines....
Hungarian M&A market to break a record in 2018
KPMG released its latest analysis on the prospects of Hungarian M&A market in 2018. Based on data from Mergermarket, 32 deals were successfully closed last year with a transaction value exceeding 5 million USD. The global advisor company forecasts that assuming...
New rules of tax procedure in Hungary; foreign bank accounts shall be declared
The Act on Tax Procedures from 2003 has been replaced by new laws: general taxation principles, rules on tax returns and other tax administration as well as the rights and obligations of taxpayers are now regulated in a new act whereas the complete tax procedure will...
GDPR: peering into the compliance of webshops
The starting date of GDPR is dangerously approaching, the date that many companies are afraid of because it sets compliance with data protection to a whole new level. A large group of companies affected by GDPR are the webshop owners since they process customer data...