NEWSROOM

Global minimum tax: uncertainty and U.S. withdrawal

The global minimum tax initiative aims to ensure that large multinational corporations operating across multiple jurisdictions pay a corporate tax rate of at least 15%.

GDPR Enforcement: Progress or Missed Potential?

As GDPR approaches its seventh anniversary, two recent reports shed light on its enforcement landscape. While fines have reached billions, questions remain about the effectiveness of enforcement across Europe.

VAT exemption threshold increased in Hungary

The Hungarian Government has made a significant amendment just weeks into 2025 by increasing the VAT exemption threshold for small and medium-sized enterprises (SMEs). Despite the autumn tax package for 2025 remaining silent on this matter, the new limit has been set at HUF 18 million, up from the longstanding HUF 12 million. This increase applies retroactively from 1 January 2025. Taxpayers have until the end of February to opt in for the exemption.

Eszter Kamocsay-Berta - SEED Excellence Award

It is with immense pride that our Founding and Managing Partner Eszter Kamocsay-Berta has received the exceptional honor of being one of the three recipients of this year’s SEED Excellence Award!

Dawn of a new era - the multilingual EU company certificate is here

On 16 December 2024, the Council of the European Union adopted a directive aimed at modernizing company law for the digital age.

Significant changes to court fees and attorneys' fees in court proceedings

The Hungarian Act on Fees and Duties will be changed significantly as of 28 January 2025, which will also affect the fees for court proceedings.

Updates on eligible countries for guest workers in Hungary

Hungary introduced new regulations for employing guest workers from third countries. These updates specify eligible countries and permit requirements to align with Hungary’s labour market needs and compliance standards.

Mandatory Liability Insurance for Construction Contractors Effective 15 January 2025

Based on the contents of the government decree on construction works in effect since 1 October 2024, all domestic construction or design firms and self-employed persons must have compulsory contractors' liability insurance starting from 15 January 2025.

Mandatory Land Exchange for New Solar Power Plant Investments

The new Hungarian Architecture Act stipulates that areas designated as green zones, agricultural zones or forest zones cannot be selected as new development zones or special non-development zones.

Significant changes to the taxation of vehicles

By passing the proposed bill on 25 November 2024, the Hungarian Government enacted significant changes to the taxation of company vehicles, set to take effect in 2025 and beyond. These modifications aim to increase tax revenues and promote the adoption of environmentally friendly vehicles.