Published on Tuesday, the wealth tax proposal sets out a more complex and far-reaching framework than previously anticipated.The proposed legislation introduces its own valuation rules, meaning that the taxable value of business assets and real estate could significantly exceed expectations. Alongside the HUF 1 billion threshold and the standard tax rate of 1%, the proposal now provides a clearer picture of who would be affected, how wealth would be valued and what compliance obligations taxpayers would face.

A new anti-corruption super-authority, accession to the European Public Prosecutor's Office, mandatory tax authority audits and the return of asset-growth investigations: within a few months, the system for protecting public assets has been fundamentally reshaped. Anyone who manages public funds or EU grants may, in future, find themselves facing as many as four different authorities.

The Hungarian Competition Authority Is Stepping Up Enforcement: Influencers in FocusThe recent case involving Coca-Cola and influencer Whisper Ton has attracted significant media attention, resulting in a HUF 5 million fine for the soft drinks manufacturer, while the influencer received a warning. This makes one thing clear: the regulation and enforcement of influencer marketing remains a long-term focus of the Hungarian Competition Authority (GVH), regardless of the size of an influencer’s followers or the business under investigation.

Many manufacturers take it for granted that they can have a say in the pricing of their products, as they know their competitors and want to position their brand in the market. However, this may raise legal concerns. Moreover, as can be inferred from the guidance recently published by the Hungarian Competition Authority, the authority will continue to take a firm action against unlawful resale price fixing.

The development tax allowance offers one of the largest tax-saving opportunities in the Hungarian tax system: it can enable companies to reduce their calculated corporate tax liability by up to 80%. However, careful planning and avoiding potential pitfalls are essential to making full use of the allowance. In addition, the reporting obligations related to the allowance have been expanded as of this year.

Legitimate interest remains one of the most frequently used legal bases under the GDPR; however, supervisory authorities are scrutinising its applicability with increasing rigor. Through the lessons learned from dozens of cross-border cases, the new OSS Case Digest published by the European Data Protection Board (EDPB) demonstrates the criteria based on which European data protection authorities assess the existence of legitimate interest and the adequacy of the balancing test. In many respects, the decisions are consistent with the practice of the Hungarian National Authority for Data Protection and Freedom of Information (NAIH), and they also provide important guidance for Hungarian data controllers as to when reliance on legitimate interest as a legal basis for processing may be regarded as sufficiently substantiated. Our article presents the most important European trends and their practical implications for Hungarian businesses.

The Hungarian crypto-asset market may be on the verge of a significant turning point: last week, the Ministry of Finance submitted for public consultation a proposal to amend the Act on the Market of Crypto-assets, which would abolish the much-debated validation requirement introduced last year, together with the related system of criminal liability. The proposed amendment marks a significant step towards re-aligning the Hungarian crypto regulatory framework with the EU's MiCA regime. By removing the additional Hungarian validation requirement, the government would eliminate one of the main regulatory barriers that previously discouraged investors and foreign crypto-asset service providers from entering the Hungarian market.