June 14, 2017 | Legal
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... »
May 30, 2017 | Legal
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... »
May 23, 2017 | Legal
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... »
May 16, 2017 | Legal
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... »
May 04, 2017 | Legal
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... »
April 26, 2017 | Legal
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... »
April 11, 2017 | Legal
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... »
March 29, 2017 | Legal
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... »
March 14, 2017 | Legal
The Hungarian Parliament has adopted the bill T /13091 on the abolishment of certain duties and fees related to public administration thus several charges that burden both private individuals and enterprises will cease to exist. It is good news for entrepreneurs that from the Ides of March no duty or publication fee is to be paid when setting up a limited liability company (“Kft.”), a single... »
March 01, 2017 | Legal
The Hungarian National Authority for Data Protection and Freedom of Information recently issued an official informative on the workplace data management titled ‘On the essential requirements of the workplace data management’. The document provides useful information for the employers on the obligations and guarantees in connection with the monitoring of emails, internet and telecommunication... »