Month: March 2017

The European Court dismissed the application for the suspension of operation of the decision concerning the advertisement tax

In the order made on March 23, 2017 the president of the general court dismissed Hungary’s application for interim measures, filed parallel with the action for the annulment of the Commission’s decision concerning the advertisement tax. By a separate document, lodged in January, Hungary claimed for the suspension of the operation of the contested decision

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Newsletter March 2017

Contents: The European Court dismissed the application for the suspension of operation of the decision concerning the advertisement tax Certain types of business entities can be established without procedural fee payment obligation, as of 16 th March Fate of advertising tax still unknown – Hungary files a legal challenge against the European Commission’s negative decision

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Certain types of business entities can be established without procedural fee payment obligation, as of 16 th March

Act II of 2017 on the revocation of certain stamp duties and procedural fees related to administrative proceedings entered into force on 16 March 2017, as a result of which several types of official proceedings will be conducted free of stamp duties and fees in the future. The most important news for business entities is

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Fate of advertising tax still unknown – Hungary files a legal challenge against the European Commission’s negative decision at the European Court of Justice

As we reported in detail in our previous summary, the European Commission published a negative decision on the compatibility of the advertisement tax introduced in Hungary in August 2014, with the EU state aid rules, upon the completion of a comprehensive investigation launched in 2015. As it is established by the Commission in its decision

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March 31, 2017 is the payment deadline for the mandatory chamber’s contribution

According to the provisions set forth in Act CXXI of 1999 on economic chambers, business entities are obliged to pay mandatory chamber’s contribution in every year, in the amount of HUF 5000 until March 31 in the current year, i.e. until March 31, 2017 this year. Information concerning the mandatory chamber’s contribution can be found

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March 15, 2017 is the deadline for the mandatory increase of the registered capital

Limited liability companies with registered capital below HUF 3 million shall increase their capital until March 15, 2017 the latest; concurrently, the entities shall also decide on continuing operations in accordance with the provisions set forth in the Civil Code and simultaneously amend the deed of foundation as per compliance to the new rules. The

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