The Hungarian Ministry of Justice has submitted to the Parliament the bill on the new International Private Law Act on 28 February 2017.
The Hungarian Parliament has recently adopted an amendment to the Hungarian Competition Act and to the Hungarian Consumer Protection Act. The amendment implements the rules of Directive 2014/104/EU issued by the European Parliament and the Council, which includes the rules of the actions for damages arising from infringements of the competition law provisions.
A bill recently presented by the Hungarian Minister of Justice targets to speed up the registration procedures and the amendment notification procedures of civil organisations. The proposed changes have been definitely created on the basis of the “good practice” of the company registration procedure.
Under the Hungarian Advertisement Tax Act, companies are taxed at a rate depending on their advertisement turnover. Accordingly, companies with a higher advertisement turnover are subject to higher, progressive tax rates. As to the companies that made no profits in 2013, the Advertisement Tax Act contained the possibility to deduct the tax base with their losses carried forward.