The videos shared on the distributor’s social networking site to promote the Update product range misled consumers about the health properties of the products, with messages such as “diabetes is cured, high blood pressure is overcome”. In addition to claims referring to the prevention and treatment of diseases, claims about the company’s market position, market
Category: News
The Government has decided to implement the E-Registry of Real Estate project, which aims to develop the real estate register into an electronic database, given that in the more than 20 years since the entry into force of Act CXLI of 1997 on the Real Estate Register, significant social and economic changes have occurred that
The Codification Committee of the Self-Regulatory Advertising Board (“ÖRT”) and the Hungarian Advertising Association (“MRSZ”) has updated the Hungarian Code of Advertising Ethics in the framework of extensive professional consultation held over the past two years, coordinating the proposals of about 24 different organisations, in more than 30 meetings, in which the head of our
Act No. 2022/XLV on the Amendment of Certain Taxation Laws has been announced in the issue of 2022/192 of the Hungarian Gazette dated November 23, 2022, which also includes the modification of Act No. 2014/XXII on the Advertising Tax by prolonging the suspension of the advertising tax for an additional year. The Act came into
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.
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 –
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
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
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
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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