Changes in stamp duty and official fee regulations
04/03/2017 14:37
The establishment of limited liability company and private partnership will be free of any stamp duty and announcement fee. This regulation may accelerate the establishment of new companies ('startup' corporations) and may also balance, in case of limited liability companies, the...
Summary on the Electronic Trade and Transport Control System (EKÁER)
03/02/2015 11:40
1. Introduction
Hungary has implemented the new system of EKÁER in 1st January 2015 in order to minimalize the possibility of VAT fraud in Hungarian public road transit. The EKÁER monitors good transportation inside Hungary and goods...
New Act on Fair Banking System in Hungary
02/01/2015 14:54
The Parliament has accepted the bill on the modification of Act CLXII of 2009 (hereinafter: Fhtv.) and published the above Act on the Fair Banking system – practically without any change in it - in the national agenda on 5th December 2014. slight modifications are due to the meanwhile introduction...
Decision of Constitutional Court regarding the consumer loan agreements in foreign currencies
14/11/2014 16:11
Regarding the foreign currency loan lawsuits the Hungarian Constitutional Court decided that the controversial provisions of Act XXXVIII of 2014 are constituted constitutional. The so-called Foreign currency loan Act (hereinafter called as the Act) declared the use of different exchange rates...
Draft of Act on Fair Banks
14/11/2014 14:35
The Ministry of Justice has submitted a bill on fair banking in the recent days. They aim to stricken the conditions of providing loans for consumers by financial institutions. The loan and financial lease agreements concluded by and between consumers and financial institutions are under the scope...
Acquisition of non-arable lands by non-residents in Hungary
10/10/2014 09:54
The Government decree no. 251/2014 replaces the former government decree no. 7/1996 on the purchase of property by foreigners. The new decree stipulates more severe provisions than the former, namely for the deadlines; the required circle of documents that shall be attached to the foreigner’s...
Curia decision on foreign exchange loans
08/07/2014 17:11
Extract from the uniformity decision no. 2/2014 PJE of the Curia of Hungary
According to Point b) of Section 34 (4) of Act CLXI of 2011 on the organisation and management of the courts (Bszi.) the Civil Department of the Curia in order to ensure the uniform application of law, concerning the...
INTEGRATION OF MNB AND PSZÁF
06/11/2013 08:55
According to the Act CXXXIX of 2013 on Magyar Nemzeti Bank (MNB), the national bank of Hungary (MNB Act) with effect as of 1 October 2013 the Hungarian Financial Supervisory Authority(PSZÁF) and the MNB are integrated into one new institution. The bank takes over all tasks from PSZÁF. The...