Category: News

MNB Decree No. 19/2022. (V. 31.) of the President of the National Bank of Hungary on the central bank’s base rate

Pursuant to MNB Decree No. 19/2022. (V. 31.) announced on May 31, 2022 and effectuated on June 1, 2022 the central bank’s base rate as of June 1, 2022 is 5,90% p.a. according the the decision of the Monetary Policy Committee of the National Bank of Hungary.

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On the review obligation of undertakings and organisations that process personal data

As of 25 May 2018, the GDPR Regulation is mandatory to apply in all EU member states, pursuant to which the data controllers of undertakings and organisations subject to the Regulation must review every three years – in accordance with Act CXII of 2011 on the Right of Informational Self-Determination and Freedom of Information –

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The Advertisement Tax will be reimposed

As announced at the Government Briefing on 26 May 2022, as part of a larger tax package, the Government decided to reimpose the Advertisement Tax, previously suspended. The tax will be based on Net Sales, and will be payable on the part of Net Sales exceeding HUF 2.5 billion. The tax base for this year

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Approval of balance sheet 2020

According to provisions of the Act C of 2000 on Accounting (the Accounting Act), companies using double-entry bookkeeping and registered in the firm registry,are obliged to deposit the annual balance sheet report or simplified annual balance sheet report – and in the case of a compulsory audit of the books, also containing the audit report

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The protective measures are extended until 29 March 2021

Government Decree 133 of 2021 (19 March) extending by one week the protective measures entered into force on Saturday, 20 March 2021, according to which several restrictive measures have been extended by the Hungarian government: The applicability of Government Decree 484 of 2020 (10 November) on the second phase of protective measures applicable during the

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March 31, 2021 is the payment deadline for the mandatory contribution of Hungarian Chamber of Commerce and Industry

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, 2021 this year. Information concerning the mandatory chamber’s contribution can be found

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Disease control measures to be in place until 1 March

The Governmental decree issued on 29 January extends the disease control measures until 1 March and it amended Governmental decree No 484/2020 (XI. 10.) on the second phase of protective measures applicable during a state of emergency, as follows: cultural institutions, public education institutions, museums and libraries may be visited for the purpose of trainings

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New regulations announced regarding the coronavirus

Issue 260 of 2020 of The Official Journal of Hungary published on 26 October 2020 includes the following Governmental regulations: 1. Border controls The current provisions applicable to border control have been extended until 1 February 2021. 2. Rules governing mask wearing The scope of people exempted from the obligatory mask wearing have been extended

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Simplified remote work rules during the emergency situation

Pursuant to Governmental decree no 487 of 11 Nov 2020, which was promulgated on the evening of 11 November 2020, the following rules are applicable to remote contractual work conducted during the emergency situation: The provisions of Article 86/A of Act XCIII of 1993 on work safety regarding remote work, for example the prescription for

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The Government declared pandemic emergency again and introduced further strict measures to combat the pandemic

By Government Decree No. 478/2020 (XI.3.), in order to protect the life and health of Hungarian citizens and to prevent the consequences of the coronavirus pandemic, the Government declared pandemic emergency again in respect of the entire territory of Hungary, effective as of 4 November 2020 (the provisions concerning the outdoor access ban shall come

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