The new act on excise duty has been amended by the Hungarian Parliament on 21 March 2017. According to the amendment initiated by the Economic Committee, the new act will enter into force on 1 July 2017, i.e. 3 months later than originally planned.
The Hungarian Parliament has started the general debate concerning the new bill on the mandatory filing of country-by-country report by multinational enterprise groups (MNE Groups) located or operating in the EU. The aim is to hinder the aggressive tax-planning practices of the MNE Groups with a total consolidated revenue equal or higher than €750 million by strengthening the mandatory exchange of information. Increased transparency could have the effect of giving MNE Groups an incentive to abandon the above practices.
At the end of March 2017, the Hungarian Ministry of Justice published the bill of the new act on attorneys at law. The bill includes significant amendments compared to the current regulations. As a main amendment, in house lawyers preparing and countersigning the deeds of the company and acting in court proceedings on behalf of the company would be integrated in the bar association.
At the end of March 2017, the Hungarian Parliament accepted the amendment to the Building Act, which enters into force on 27 April 2017. According to the current rules, if natural persons start the construction of new buildings which do not exceed the limit of 300 sqm or the extension of existing residential buildings up to 300 sqm, the constructions works have to be carried out by a simple notification instead of a building permit.
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.