November 03, 2017 | Legal
The Constitutional Court decided: rules of the inheritance in the act on the trading of agricultural lands are to be changed. The Constitutional Court ruled that the Parliament caused unconstitutionality by failure when adopted the act on the trading of agricultural lands.   Previously, we discussed in details the topic of inheritance of agricultural lands including that in case of... »
October 17, 2017 | Legal
The information letter recently released by the tax administration (‘NAV’) is useful for those who are about to buy land as it not only explains the rules on land acquisitions exempted from duties but also advises on the inspection of the compliance with the said rules.   The tax administration accepts the undertakings of the conditions for exemption from duties simply on the grounds of... »
October 03, 2017 | Legal
We are pleased to announce that new experts have joined ECOVIS HUNGARY.   From September 2017 Dr Szilvia GECSER joined as an associated attorney who specializes in data protection law. The senior lawyer who works in Hungarian and English has been the member of the Budapest Bar Association since 2004.   Our office has long expertise in the field of mining law. Our colleague, equity... »
September 19, 2017 | Legal
Ecovis Hungary Legal has signed a cooperation agreement with the National Association of Large Families (NALF) heavily discounting its legal services for NALF members.   A minimum discount rate of 15% applies to all types of cases: reduced rates are available for any legal matter from transfer of ownership of a real property through issues of companies or other entities and to classical... »
September 05, 2017 | Legal
The entry into force of the Act LIII of 2017 on the Prevention and Combating of Money Laundering and Terrorist Financing (‘new AML’) on 26 June 2017 has a particular significance from a data protection perspective. Now the new regulation makes it possible to photocopy and store the documents of a personally appearing client which is a 180-degree change compared to the previous regulations.... »
August 22, 2017 | Legal
The so called “support procedure” has been introduced by § 90/A and 90/B of the Act XCII of 2003 on the rules of taxation since January 1, 2017. This is mostly the case for those who provide short-term accommodation through Airbnb. It is important and worthwhile to cooperate with the tax administration (NAV).   In 2017 a new era started at the NAV: Instead of punishing taxpayers, the tax... »
August 09, 2017 | Legal
On June 26, 2017 the Act LIII of 2017 on the Prevention and Combating of Money Laundering and Terrorist Financing came into effect introducing many substantial changes for attorneys regarding their client reporting obligations.   Attorneys are still required to comply with their client due diligence and reporting obligations as long as they manage client money or asset as a deposit, or are... »
July 27, 2017 | Legal
Provisions of the Government Decree on consumer contracts relating to webshop purchases changed on May 6, 2017.   The amended rules of the Government Decree 45/2014 (II.26.) fine-tuned the already existing provisions but at the same time also introduced new elements for the protection of consumers.   One of the innovations is that consumers may withdraw their submitted orders... »
July 12, 2017 | Legal
The Competition Authority will increasingly focus on online commerce in combatting anti-competitive agreements in the coming years.   A webstore may expect a massive monetary penalty if the Competition Authority finds out that the resale and algorithmic price fixings or geographical content blocking (geo-blocking) agreements of the webstore infringe the rules on the prohibition of... »
June 28, 2017 | Legal
From July 1, 2017, rules on registered office services will be tightened.   Several companies register virtual offices at the company court of registration which means that the company does not actually operate at that place but postal deliveries are taken over by this service provider. Multinational enterprises often choose to establish daughter companies for taxation or any other... »