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... »

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... »

In June 2017 Dr. Gabriella Nagy-Fribiczer, having an outstanding expertise in public procurements, joined Ecovis Hungary Legal.   Our new expert began her career in public procurement at Public Procurement Council where she held various positions in the leadership for more than 13 years and also acquired rich experience as the head of international and educational department. Besides, she... »

According to the latest decision of the Central Bank Of Hungary (MNB) from May 1, 2017 financial institutions will no longer have to publish the fact of the completion of their settlement obligations and other information related to settlement and exchanging rates. The decision suggests that settlement cases were closed by the beginning of 2017 – typically by termination.   Statistical... »

The number of registrations with the data protection register greatly increased last year, from 7 to 17 thousand. Nearly half of the 1,000 written concerns in connection with data protection proved to be wrongful. The extent of the monetary penalty is relatively low to the European average; however, it is going to significantly increase thanks to the new European General Data Protection... »

In the collaboration of ECOVIS HUNGARY and Vezinfó Publisher new series of professional handbooks is being launched this spring. “Invoicing Handbook 2017” - published in March - is the first piece of the series.   The author is dr. László Kelemen, the head of Ecovis Tax Solution, who explains administrative obligations by summarizing his practical experiences gained during his tax expert... »

Acquisition of companies (“business associations”) with real estate assets may generate an obligation to pay transfer duty.   First of all the company must be a “business association with domestic real estate assets” as it is defined by law.   According to the relevant regulation, the company is considered as business association with domestic real estate assets, if the value of the... »

We are proud to announce that the expert blog by ECOVIS HUNGARY has been launched: Anyone interested can access our Hungarian entries on “Jogadó Blog” where we will regularly share our practical and comprehensive experience.   We will discuss and review issues in the fields of mining law, energy law, trusts, consumer protection, e-commerce, real properties, environment protection, waste... »

The Ministry of Justice has put forward the draft of the new act on attorneys to social consultation. The proposal is available at the Government’s website.   Clients may be also interested in the recent amendments, so we have picked certain provisions to present without going into excessive details. - According to the proposal, the part of the contingency fee exceeding the 2/3 of the... »

A significant amendment of the Act on the registration and procedural rules of civil associations came into force March 1, 2017.   The amendment aims to simplify and accelerate court proceedings in connection with civil associations:   - Simplified procedure becomes available for sport associations, too. - Registration of the civil association takes place automatically by virtue... »