As a result of the new Hungarian Code of Civil Procedure, from 1 January 2018 the parties of a dispute may conclude a settlement in civil cases before a public notary without initiating a court proceeding in the framework of a new non-litigious procedure.
The revised payment services directive (“PSD2”) has already been implemented in Hungary, most of the provisions will be effective on 13 January 2018. PSD2 will open up the payment market to new players (“fintech companies”) in the payment services, particularly to payment initiation service providers (“PISPs”) and to account information service providers (“AISPs”), and introduces strict security requirements for the initiation and processing of electronic payments (strong customer authentication – “SCA”).
According to the current wording of the Code of the Civil Procedure, a private document, until proven otherwise, must have full probative force, verifying that the issuer has in fact made the statement that the document contains, or undertakes to consider himself bound by such statement, provided that the rules regarding the form of using witnesses is observed.
Based on the recently modified Hungarian VAT Act, in case of invoices issued in connection with transactions between resident taxpayers, the issuer of the invoice is obliged to report data from the invoice to the tax authority if the output tax is equal or above HUF 100,000. The goal of this obligation is the reduction of tax evasion and the whitening of the economy.
The Hungarian Government submitted a bill on environmental protection product charges to the Hungarian Parliament in September 2017. The bill implements the changes of Directive 2012/19/EU on Waste Electrical and Electronic Equipment, which targets to make easier the payment of the charge and to reduce the administrative burden of the undertakings.
The Hungarian Parliament adopted a new act on non-judicial civil proceedings on 12 October 2017. The purpose of this act is to determine the rules that apply to all non-judicial civil proceedings before the courts, provided that the law governing the proceeding in question does not regulate otherwise, and the main goal is to regulate these proceedings in a more appropriate and transparent way.
According to the current provisions of the Code on the Civil Procedure, a private document shall, until proven otherwise, have full probative force, verifying that the issuer has in fact made the statement that the document contains, or undertakes to consider himself bound by such statement, provided that the rules regarding the form of using witnesses is observed.