A so called simple notification is enough to begin the construction of a new residential building having a total useful floor area of a maximum of 300 sq.m. i.e. no building permit needs to be obtained. The lack of the authority’s preliminary inspection simplifies the procedure of the construction; however it may cause complications afterwards. The building authority’s subsequent inspection... »

Ecovis Hungary Legal senior partner Dr Gabor B Szabo’s article on Hungarian trusts was published in the issue of August 2016 of Offshore Investment Magazine which is one of the leading professional journals in the international tax planning industry. The expert’s article on trusts was written primarily for the international professionals, however it explains the legal instrument introduced by the... »

The tax authority published on its EKAER website an interpretation about the EKAER number requirement for the public road transit with vehicles over 3,5 tons which are not subject to paying usage-proportional road toll. Summary of the authority in Hungarian is available here. If you are interested in the above topic please contact our experts at Ecovis Tax Solution who would be entirely at... »

The Hungarian Government‘s recent plan is to link the invoicing of the companies to the NTCA from July 1, 2017. According to the bill the taxpayers will provide data directly to the NTCA of any invoices issued by their accounting software where the VAT reaches or exceeds HUF 100,000. Providing data to the NTCA would take place automatically and electronically as the invoice is issued ensuring... »

The tax authority published on its website an interpretation about how to understand the concept of useful floor area in case of applying the discount (5%) tax rate during the purchase of specified real estates.   Full text of interpretation in Hungarian is available here. If you are interested in the above topic please contact our experts at Ecovis Tax Solution who would be entirely... »

The new Union Customs Code entered into force on October 30, 2013; however most of its substantive provisions apply from June 1, 2016. The UCC is the latest milestone in EU’s customs legislation giving a complex and directly applicable regulation involving new models and mechanism in several aspects of customs law. These areas particularly are customs public proceedings, representation in these... »

From 8 July, 2016 it is required to elect a health and safety representative not later than January 8, 2017 in workplaces where at least 20 workers are employed. In workplaces where less than 20 workers are employed it is only required to elect a health and safety representative if it  is initiated by the workplace’s trade union or shop steward or in the lack of these the majority of the... »

Having regard to these circumstances, we are happy to announce that the team of ECOVIS HUNGARY’s legal office will have a new member from August 1, 2016. Veronika Tolnainé Tóth is our new adviser specialized in customs law. Her skills are unique in explanation of union and national customs legislation, optimize customs related economic firm flows, and she helps the work of lawyers in juridical... »

We are glad to announce that ECOVIS International is taking a big step forward to strengthen its presence on the US-American market by having signed an agreement with Marcum LLP, which will make them the exclusive associated partner of ECOVIS International for accounting, tax and audit in the United States of America. Marcum LLP is one of the largest independent public... »

Hungary has become one of the most attractive countries in the region in respect of the creation and utilization of intellectual property thanks to the various tax-allowances. The Hungarian legislation amended the applicable law a month ago. If you are interested in this topic please contact our legal experts and we will provide you with a short summary.