The grace period until 30 June 2024 is slowly expiring for manufacturers to market products that do not yet comply with the Deposit Refund System (DRS) rules.

A bill amending certain laws affecting the functioning of the state was adopted by the Parliament in the middle of June 2024. The bill postpones again the entry into force of the new Land Registry Act to 15 January 2025. In addition, the bill amends provisions in several different areas of law (e.g. health, education, immigration).

Approximately 1.5 million condominiums are affected by an amendment of the Condominium Act regarding the registration of common representatives.

The amendment to the ESG Act was published in the Hungarian Official Gazette of 17 April 2024 and entered into force in May 2024.

Finance Minister Mihaly Varga announced on 4 May 2024 that the Government will prolong the preferential VAT regime for new homes for an additional two years.

According to a statement made by the Association of Hungarian Insurers, from 16 July 2024, the range of vehicles for which compulsory motor vehicle liability insurance must be taken out will be extended.

With a new function on the National Tax and Customs Administration’s (NAV) mobile application (“NAV Mobile”), anyone can check whether their employer has notified the tax authority about their employment in accordance with the employment contract.

In February 2020 the Hungarian Competition Authority initiated a competition supervisory procedure against Viber Media (operator of the Viber app, seated in Luxembourg) which was likely to infringe the prohibition of unfair commercial practice against consumers. During the procedure, Viber made commitments aiming at the avoidance of penalties. The procedure ended on 16 May 2024 with a decision where the authority, without finding an infringement or lack of infringement, obliged Viber to fulfil its commitments.

Recently, the Artificial Intelligence Coalition (MIK) informed the relevant committee of the Hungarian Parliament about possible trends in the sector. The MIK’s goal is clear: to put Hungary at the forefront of AI developments and applications in Europe and to become a member of the international AI community. In this process, it will bring together users, market players, academia, professional organisations and public institutions.

We are proud to announce that KCG Partners have advised Corvinus Zrt., the Hungarian state-owned investment fund in the strategic acquisition of majority interest of Budapest Liszt Ferenc International Airport.

Linklaters, Freshfields, Bittera, Kohlrusz & Toth, and Herbert Smith Freehills have advised AviAlliance and co-shareholders on the sale of Budapest Airport to a consortium consisting of Hungarian state-owned Corvinus Zrt and French co-investor Vinci Airports for a total purchase price of EUR 3.1 billion and net debt of EUR 1.2 billion. CMS advised Corvinus. Kinstellar, working with Orrick, advised Vinci Airports. Wolf Theiss, working with Latham & Watkins, advised the lenders on financing the transaction.

The Court of Justice of the European Union has decided in two cases concerning Hungary in its judgments in joined cases C-420/22 and C-528/22, published on 25 April 2024.

A new decree entered into force on 9 April 2024 on the ban of employment of guest workers in the public sector in Hungary.

At the end of 2023, the Hungarian Parliament adopted the Act on the Digital State and Certain Rules for the Provision of Digital Services (“Digital State Act”), the majority provisions of which will enter into force on 1 July 2024. This act opens a new era in the digitalization of public services, serving the 21st-century administrative needs of the Hungarian people and economic operators.

EU legislation on crypto-assets is based on the EU Regulation on Markets in Crypto Assets (as known as MiCA), which is directly applicable in the Member States, including Hungary.

As of 1 April 2024, the decree of the Hungarian National Bank on the processing of payment transactions has been amended, which particularly affects the process of immediate transfers.

In the ever-evolving landscape of legal technology, two notable players, SauLM-7B, and Harvey AI, have emerged with the aim of revolutionizing legal assistance through artificial intelligence. SauLM-7B and Harvey AI compete for prominence in the legal tech arena, their names both carrying a subtle nod to the realm of popular TV series – from Saul Goodman's legal antics in Breaking Bad and Better Call Saul to Harvey Specter's suave maneuvers in Suits.

Convenience fee is the part of our everyday life that seems to be a usually small but inconvenient price to pay for shopping online. But is it indeed a necessity? The Prosecution Service of Hungary intends to find out exactly that.