As in every year, the Hungarian tax administration has published its yearly summary with the most important trends and numbers regarding taxation in Hungary during 2023. In the last year it seemed that, while the tax authority was still increasing its efforts to entice the taxpayers’ voluntary compliance, fines have also soared to unprecedented heights. The statistics also show that it remains worthwhile to take the case to the courts if one finds the National Tax and Customs Administration’s decisions unlawful.

Default penalty amounts generally has been doubled in Hungary as of 1 August 2024. According to the Governmental Decree published in the Hungarian Gazette on 8 July 2024, overwriting the Act on the Rules of Taxation, the increase is due to the Ukrainian war and is theoretically effective by the end of the emergency period.

Hungary's growing economic performance and competitive tax system offer a good business environment for companies from Switzerland, while the presence of Hungarian companies in Switzerland is also growing.

Former Lakatos, Koves and Partners Head of Tax Balazs Kantor has joined Kapolyi as a Partner and the firm’s new Head of Tax.

Schoenherr has promoted Nora Olah to Local Partner in its Bucharest office.

In response to the extensive destruction caused by Russia to Ukraine’s critical energy infrastructure, the Ukrainian government continues to implement emergency measures to restore energy-generating capacities and ensure energy stability across the country.