February 06, 2019 | Audit
We would like to draw your attention to a couple of auditors related news and changes of rules applicable also for the civil sector. Modification in Policy of Mentors by Hungarian Chamber of Auditors From now all mentor has to send the valuation of the auditor candidate within 90 days after finishing mentor year. The auditor or auditing company can not be a mentor if against him there was a... »
August 16, 2018 | Legal
What can a condominium do if an owner rents out his unit for Airbnb? On the other hand, what issues should you consider if you wish to provide accommodation services in your apartment? In general it can be said that owners have the right to make use of their flat at their own discretion; while the co-owners have the right to take legal actions against disturbances in the condominium.... »
July 12, 2018 | Legal
If we wish to avoid unpleasant surprises in relation to our official summer vacation period, then we do have to be familiar with some important statutory provisions regarding the allocation of summer holidays: Many people are unaware that basically it is the employers’ discretion to allocate summer vacation. However, it is not completely up to the employers to decide about vacation time as... »
May 09, 2018 | Legal
The state tax authority (NAV) has prepared around five million provisional personal income tax returns this year which function as a kind of recommendation. However, a provisional tax return is only a draft which is prepared on the basis of the data available in the registries of the NAV and which does not necessarily contain all the data you need to report. What could be those incomes and... »
April 20, 2018 | Audit
Paper free Tax Authority The Hungarian Tax Athority – uniquely in EU – launched the paper-free tax audit successfully. This will result in significant cost and time savings to the enterpreneurs. Preliminary announcement on self revision We draw your attention to a new document (18ONELLB). With this document tax payer can announce the future self revision and within 15 days of... »
April 19, 2018 | Legal
From 2018, the construction of solar power plants is expected to boom: According to the amendment of the act on the protection of land last year, and to the new measures entering into force this year, the use of poorer quality land for other purposes may be exempted provided that only low-power plants are built and operated thereon. The procedure has become considerably simpler, quicker and... »
March 27, 2018 | Legal
Business mediation is a quick, cost-efficient and private way of dispute settlement and the success of which depends on the parties’ ability to reach consensus. The mediator of the dispute does not make a decision, but helps the parties by approximating their interests and goals.   This mutual and unique dispute resolution can replace in many cases the costly, complicated and lengthy... »
March 13, 2018 | Legal
The Act on Fixed-rate Tax of Low Tax-bracket (a.k.a. KATA) provides an extremely favorable condition for taxation, however many misuse it: to reduce taxes, enterprises rather make independent contractor agreements falling under small business tax with their employees. This is clearly a disguise for employment. If the reported revenue exceeds HUF 1 million a year, the tax administration will... »
February 27, 2018 | Legal
Most call centers record telephone calls and the caller is informed of it by an automated voice. However, our voice is a type of personal data and its recording and storage is lawful if a compulsory law prescribes it or the person involved in the call has given consent to be recorded. This conduct is obvious in the case of certain companies and public services providers who fall under the... »
February 13, 2018 | Legal
Under the regulation of the European Union airlines are obliged to pay compensation to passengers in the event of denied boarding, cancellation or delay of flights. If your flight has been delayed by at least 3 hours, it can somewhat ease your mind that you are entitled to EUR 250-600 in compensation. But what exactly does it depend on how much money you will get? Which flights and what... »