Legal – Blog | RSM Hungary

2020.07.01Legal

Statutory regulations on authorising acquisitions by foreign investors in Hungary

Pursuant to a government decree adopted in relation to the emergency situation on 25 May, in certain business sectors, foreign investors could only acquire shares in business entities with registered offices in Hungary subject to the acknowledgement of the relevant minister. Following the repeal of the government decree, statutory regulations entered into force as part of the miscellaneous amendments concerning the end of the emergency situation, effective from the day on which the emergency situation was declared to have ended, which amended certain provisions of the decree.

Bálint Szűcs

2020.04.01Coronavirus Legal

Epidemic-safe company set-up, transformation and sale or purchase of property with digital attorney counter-signature

Company proceedings, property sale and purchase contracts: almost everyone automatically remembers that an attorney is necessary for these procedures and the signature typically takes place in the office of the legal representative. Many are unaware, however, that company foundation and company transformation processes and even sales and purchases of property requiring attorney counter-signature can be carried out electronically without personally seeing the attorney.

Bálint Szűcs

2020.03.20Coronavirus Legal

Extraordinary measures override the Labour Code

According to the regulation published in today\'s Hungarian Official Gazette, the new package of measures has overridden several labour law rules. Teleworking and working from home can be ordered independently of an employment contract, as the possibilities for derogation from the Labour Code are extended.

Bálint Szűcs

2020.03.19Coronavirus Legal

What can employers do and what not in the COVID-19 situation according to the Labour Code?

We discuss the labour law questions most frequently asked in the COVID-19 induced pandemic situation based on the Labour Code. What can employers do, how can it change the working hours and the employment of employees?

Bálint Szűcs

2019.12.18Legal

First green premium tender in Hungary is closed – initial takeaways and expected timeline for final decisions

The filing deadline of the first tender subsidizing energy production from renewable resources under the green premium scheme has recently finished at the December 2 15:00 deadline and the Hungarian Energy and Public Utility Regulatory Authority (HEPURA) has published the basic data of the renewable sector tender after the opening of the submitted tender documentation.

Bálint Szűcs

2017.12.07Legal

Data storage – not only concerning primary sources!

Companies often underestimate the quantity of data they accumulated about their buyers, customers. This also means that they underestimate the significance and potential consequences of the introduction of the new General Data Protection Regulation (GDPR).

Bálint Szűcs

2017.11.21Enterprise valuation Legal

Company acquisition options and their legal consequences

In a previous post, we gave an overview of possible methods of acquisitions (share, asset or division purchase) and the primary business issues arising in case of each of the alternatives. Choosing from these methods, although a business decision, obviously leads to different legal consequences.

Helga Kiss

2017.05.19Legal Tax

New tool for reducing tax evasion – the CbC report requirement takes effect

15th of May marked the proclamation of the legislation that requires businesses to prepare Country-by-Country Report (CbC) reports. Hereby we summarize the most important issues and deadlines impacting Hungarian firms, including when the Hungarian companies need to submit their CbC reports and the obligations of firms whose parent companies are in the United States, which for the moment is a special case, regarding data reporting.

RSM Hungary

2017.10.17Legal Tax

Contribution Cut, 2018

There is no surprise in the draft of the Act on Social Contribution Tax promulgated last week; the contribution payable by employers will decrease by 2.5 percent to 19.5 percent in 2018.

Dániel Sztankó

2017.10.30Legal Tax

Hungary extends the real-time invoice reporting (RTIR) to paper-based invoices

As you may know Hungary plans to introduce real time invoice reporting obligation from 1 July 2018. Any Hungarian VAT registered entity that issues invoices with a VAT amount above HUF 100,000 (approx. EUR 320) to another entity VAT registered in Hungary will be required to report these invoices “without delay, but within 24 hours at latest” to the Hungarian Tax Authority (HU TA). This includes businesses established outside Hungary but registered for VAT in Hungary. According to the current law draft failure to report the invoices in real time mode may attract administrative penalty of up to HUF 500,000 (EUR 1700) / invoice.

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