March 20, 2016
Based on the general rules, when the Hungarian taxable persons purchasing services from abroad the place of supply of the given service will be situated in Hungary (where the recipient of the service has its fixed establishment that is closely connected with the given service). Further to the place of supply rules, it is also important how to define the date of supply, i.e. the date when the VAT... »
March 07, 2016
The Civil Code created a new legal form for the protection of the property which may be a flexible alternative for inheritance and also an effective instrument to optimize the transfer of property from a tax point of view. Dr. Gábor B. Szabó, one of the senior partners of Ecovis Hungary Legal gave a lecture on the application of the new legal instrument at the Hungarian Academy of Sciences... »
March 02, 2016
The Parliament postponed the deadline on the mandatory increase of the registered capital of limited liability companies. The new deadline is March 15, 2017. Shall be noted that all of the companies which already has registered capital of HUF 3,000,000 (or more) are obliged to amend the deed of foundation or the articles of association according to the regulations of the new Civil Code. If you... »
February 25, 2016
Until December 31, 2016 the owners of arable lands located in residential areas (in Hungarian: „zártkert”) are entitled to initiate a procedure at the land registry to represent the land as „area withdrawn from cultivation”. The advantage of the modification of title is that the lands which are titled as „area withdrawn from cultivation” are not under the strict regulation of the Act on... »
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