Default penalty amounts generally has been doubled in Hungary as of 1 August 2024. According to the Governmental Decree published in the Hungarian Gazette on 8 July 2024, overwriting the Act on the Rules of Taxation, the increase is due to the Ukrainian war and is theoretically effective by the end of the emergency period.

Hungary's growing economic performance and competitive tax system offer a good business environment for companies from Switzerland, while the presence of Hungarian companies in Switzerland is also growing.

On 8 August 2024, a new Government decree was published on the designation and operating conditions of the building authorities.

With preparations for the 2024 CEE Legal Matters Hungary General Counsel Summit in full swing, Peter Virag, the Head of Antitrust, Competition, and Trade at Oppenheim, shares his thoughts about the upcoming event and what he's looking forward to as both a moderator and participant.

With preparations for the 2024 CEE Legal Matters Hungary General Counsel Summit in full swing, Jaslovszky's' Tamas Feher talks about the upcoming event and the panel he'll be moderating.

In July 2024, the Hungarian Government introduced significant changes to the regulations governing online payments, aiming to enhance consumer protection and the security of electronic transactions.

The European Union lawmakers have completed the group of many sustainability and circularity-focused initiatives introduced during the last legislative cycle. The Corporate Sustainability Due Diligence Directive (CSDDD) is a significant step towards promoting sustainable and responsible business practices and more transparent company operations. This Directive completes the Corporate Sustainable Reporting Directive (CSRD) from December 2022, which updates the process of how and what companies report in their non-financial statements, according to European sustainability standards.

In 2024, Hungary introduced new regulations concerning the employment of guest workers. The new law, which took effect at the start of the year, outlines specific criteria for obtaining a guest worker residence permit. Under the new regulations, a guest worker can receive a residence permit if the following conditions are met:

With preparations for the 2024 CEE Legal Matters Hungary General Counsel Summit in full swing, Pontes' Csaba Polgar talks about the upcoming event and what he's looking forward to the most.

A&O Shearman has advised EcoPro Global Hungary on USD 860 million financing for an EV battery cathode active material manufacturing factory in Debrecen, Hungary.

With preparations for the 2024 CEE Legal Matters Hungary General Counsel Summit in full swing, Schoenherr's Miklos Klenanc talks about the upcoming event and the panel he'll be moderating.

Former Lakatos, Koves and Partners Head of Tax Balazs Kantor has joined Kapolyi as a Partner and the firm’s new Head of Tax.

Summer is traditionally a slower period for many, including the legal sector, but, if used right, the time can pay dividends for law firms.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With managing firm clients being a critical aspect of firms’ operations, we asked: What are the three most important elements when onboarding a new client?

In the Inside Track, General Counsels across CEE share the nuances of their roles, challenges, and strategies for success. With organizations continuously challenged to adapt to new and complex legal frameworks, this time we asked: For the implementation of whistleblowing requirements, do you intend to use internal resources or outsource, and why?

Greenberg Traurig has advised CCC Group on the up to PLN 1.8 billion term and revolving facilities provided by a consortium of banks and finance institutions. Clifford Chance and Lakatos, Koves and Partners advised the lenders.

As of 1 August 2024, the maximum amount of the fine that can be imposed by the Hungarian Competition Authority (“HCA”) will increase from 13% to 15% during the state of war emergency.

In export-import trade transactions across Europe, sellers commonly protect their assets by retaining the title of ownership until the buyer has paid the full purchase price. Retention of title allows sellers to reclaim the assets in case of non-payment or the buyer’s bankruptcy before full payment. However, in Hungary, such an arrangement can present unexpected challenges for sellers.