CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
Some segments of the real estate market are expected to improve slowly, while ESG considerations are becoming increasingly important, according to the DLA Piper Hungary Real Estate Intelligence Report 2024. These are the key trends shaping the Hungarian real estate market.
To further safeguard Hungary’s natural values and resources, promote a greener economy, and enhance the circular economy, the Hungarian Government introduced the possibility of two-level proceedings in environmental authority cases starting from 1 July 2024. This measure aims to strengthen the protection of public health and the environment.
Wolf Theiss, working with Ropes & Gray, has advised American Industrial Partners on its investment in Austin Powder. Jones Day reportedly advised Austin Powder.
Wolf Theiss has advised the owners of Kecskemeti Konzerv on the sale of the company to Granit Group's subsidiary Agrar-Finance. Jalsovszky advised Granit Group.
The announcements made by the Hungarian Government on 8 July 2024 envisage a number of new and higher payment obligations, as well as other public taxes and restrictions, that will include a defence contribution, increased administrative fines, extra profit tax, changes to social contribution tax on entering the labour market, transaction and currency exchange levies
The grace period until 30 June 2024 is slowly expiring for manufacturers to market products that do not yet comply with the Deposit Refund System (DRS) rules.
Lakatos Koves and Partners has promoted former Counsel Peter Berethalmi to Partner in the firm’s Corporate and M&A group.
Oppenheim has advised Audi Hungaria on the tendering procedures, negotiations, and EPC and PPA agreements related to its photovoltaic power sources.
A bill amending certain laws affecting the functioning of the state was adopted by the Parliament in the middle of June 2024. The bill postpones again the entry into force of the new Land Registry Act to 15 January 2025. In addition, the bill amends provisions in several different areas of law (e.g. health, education, immigration).
Contributed by Provaris.
Approximately 1.5 million condominiums are affected by an amendment of the Condominium Act regarding the registration of common representatives.
The amendment to the ESG Act was published in the Hungarian Official Gazette of 17 April 2024 and entered into force in May 2024.
Schoenherr has advised the Schwarzmueller Group on a partnership with the Krone Group. CMS reportedly advised the Krone Group.
Former Counsels Robert Wippel, Desiree Prantl, and Claudia Fochtmann-Tischler and former Senior Associate Daniel Orosz were promoted to Partners at Baker McKenzie as part of the firm's 2024 promotions round.
Finance Minister Mihaly Varga announced on 4 May 2024 that the Government will prolong the preferential VAT regime for new homes for an additional two years.
According to a statement made by the Association of Hungarian Insurers, from 16 July 2024, the range of vehicles for which compulsory motor vehicle liability insurance must be taken out will be extended.
With a new function on the National Tax and Customs Administration’s (NAV) mobile application (“NAV Mobile”), anyone can check whether their employer has notified the tax authority about their employment in accordance with the employment contract.
The former Noerr Budapest team has joined WTS Legal Hungary, including Zoltan Nadasdy, Viktor Fuzi, and Eszter Hegedus as Partners.
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