As we move into yet another year with the special surtaxes in effect, the question justifiably arises: for how much longer will the extra-profit taxes, those labelled initially as temporary, encumber the Hungarian taxpayers’ declarations. Also, businesses now have to face additional burdens, such as the EPR fees, the carbon quota tax or the global minimum of the corporate income tax. 

The decision of the U.S. Securities and Exchange Commission (SEC) on January 10 has stirred significant attention, as it granted approval for the listing of certain products based on Bitcoin on the stock exchange. The impact of this decision on the European and American securities markets, and whether similar steps will be taken, depends largely on the details – including the names assigned to cryptocurrency-based products.

Since COVID, we have been living with a rule that makes the acquisition of ownership by foreigners in certain Hungarian companies operating in strategic sectors subject to government approval. Although we can no longer speak of a state of emergency, the rule is expected to stay with us for long – albeit with several modifications along the way, as happened in January this year.

Nowadays, we use software even when we're not aware of it, as everything from cars to smartwatches and household appliances, without exception, is operated with the help of some software or application. However, few people know that in the development of any software, there is a good chance that open-source software is used. Open-source software offers excellent solutions and an inexhaustible knowledge base, but its legal implications are far from clear.

According to the opinion released yesterday by the advocate general of the European Court of Justice, the Hungarian regulation that prohibits foreign taxpayers from submitting their documents in the second instance (appeal) procedures in VAT refund cases violates European law. If the final judgment will align with this opinion, it would not only simplify the process for foreign businesses to claim VAT refunds in Hungary but would also open the possibility to reclaim previous VAT payments.

The rules for shop closures are tightening, and next year, those who violate invoice or receipt obligations may not necessarily get away with just a warning. Considering that even a few weeks of closure can cause significant damage to a company's life, it is advisable for businesses to tighten their processes and supervision of their employees.

As of 1 January 2024, a long-standing dream of startups is coming true: these companies can provide shares to their employees and executives tax-free. As a result, the ownership mindset and motivation of these individuals can be efficiently ensured without tax burdens.

The approaching October 20 deadline has been kept the Hungarian business sphere on edge for quite some time. This is the cutoff for submitting the first EPR (Extended Producer Responsibility) declarations. While many details are still unresolved, it is already clear that attempting to deceive or withhold information is not worth it.