Act I of 2012 introduced a number of innovations in the area of labour law which are vital for employees to be familiar with from a guarantee point of view and for employers for the purposes of cost optimisation.

One of the momentous amendments of the new Civil Code was the introduction of separated mortgage to replace individual lien regulated by the previous Civil Code. In these days, the absence of individual lien has been felt.

According to the ad hoc decision of the Metropolitan Court of Appeal, there is no obstacle to the payment of outstanding cash contribution over 2 years in case of the establishment or recapitalisation of limited liability companies, in light of the provisions of the new Civil Code.

In the context of a recent event, the legal rules for advertising misleading to consumers and the background of such rules once again captured public attention.

Since the new Civil Code of Hungary entered into force, the provision of interest of late payment caused continuous problems as the conflict between legislation and practise was almost indissoluble from accounting and taxation perspectives.The situation was worsened by the conflict between the applicable regulation and the EU directives it is based on.

Just like every year, the National Tax and Customs Administration (NAV) published its information notice regarding the audit targets until 20 February this year, notifying tax payers as to whose activities engaged in which sectors will be principally audited by NAV in the current tax year. Please find below a summary of the fields and directions of audit targeted most of all.

The aim of labour inspection is to define whether the employer complies with the basic rules and principles of labour legislation.

From now on all relevant information of the clients’ accounts is available automatically to the National Tax and Customs Office, this is the most important amendment of the Standard for Automatic Exchange of Financial Account Information, wich entried into force on the first of january, 2016, so-called CRS Agreements.

Almost at the last second, two weeks in advance of the expiry of the time limit allowed, Mr Gergely Gulyás, MP, submitted an individual motion to the Parliament to extend, by an additional year, the time limit allowed for limited liability companies having a registered capital of less than three million Forints to implement a capital increase required by legislation and to ensure that their operations are covered by the new Civil Code of Hungary.

If employment claims are asserted it is not always unambiguous prima facie as to which cases can be referred to employment tribunal and which ones to an ordinary court. It is useful for both employers and employees to be aware of which body is responsible for adjudicating a labour dispute and how the claim can be asserted.