Social and economic changes in 2022 have broken a long downward trend recently, with the number of tax categories increasing from 51 to 59 last year. We give you the latest lowdown.

Many people who hold assets or realise income on foreign bank accounts have recently received an invitation from the Hungarian tax authority, NAV, to partake in a “support procedure”. An invitation from a tax authority is never entirely pleasant, even if its purpose is “support”. Or is there really nothing to fear?

If a property price includes VAT, the question often arises as to whether the gross or the net purchase price should be indicated as the market value of the property for stamp duty purposes. Even if it hasn’t been officially announced yet, it does seem we’re getting closer to an answer – and the good news is, it looks like the net price will win out.

As many already know, the provisions of the Labour Code (LC) have changed substantially with effect from 1 January. Amid the many changes, however, there’s one in particular that may escape employers’ attention but could end up costing them dear: the broadening of the burden of proof on employers.

A joint venture in Hungary succeeds when the partners translate their business plan into enforceable governance and exit rules. Hungarian practice usually favours a limited liability company (Kft.) for most projects and a private company limited by shares (Zrt.) for larger or investment-heavy ventures, but the vehicle is secondary to the quality of the shareholders’ agreement. This article concentrates on avoiding paralysis in a fifty–fifty ownership structure by designing specific decision rules, timed escalation, and credible exit outcome.

A widely applied business model among software development companies is providing software development services for other businesses. Few of these companies know that they can still claim tax relief in this case too, just as they would be able to if they were developing software for their own purposes.

If you’ve never sued or been sued, you may be forgiven for thinking that the costs of the lawsuit are paid by the losing party. However, after a case is closed, the winner of the suit may easily find that its win was a Pyrrhic victory, and that it is left with substantial costs to shoulder, without compensation. What are the impacts of this on business and how should parties best manage the related risks?

More than two years ago as a transitional rule, the acquisition of ownership interest in Hungarian companies by foreigners became subject to authorisation. The rule seems to have become permanent in the meantime, though many questions of legal interpretation remain unanswered. Some market players are following the process with resignation, others with serious reservations.