Lakatos Koves & Partners, working with Stevens & Bolton, has advised the Zenitech group on the acquisition of Autsoft.

According to its latest ruling, the Spanish tax authority certainly considers so. However, the recent boom in the popularity of NFTs poses more questions than answers from the perspective of indirect taxes.

Hungarian lawyer Balazs Mak, Vice President of Legal Affairs at Paramount Global Content Distribution, has moved to Paramount Global’s Amsterdam offices.

The energy crisis has led to businesses shutting down for the winter and subsequent employment-related issues, with the Hungarian government now providing energy subsidies, according to KCG Partners Founding Partner Rita Parkanyi.

According to the Hungarian Labor Code, employers shall keep records of the durations of regular working time and overtime, standby duty, periods of leave and overtime work performed. The working time records should be updated on a daily basis and should contain facilities to identify the time of commencement and end of any regular and overtime work and standby duty. Records of the durations of regular working time and overtime may be maintained in the form of verifying the work schedule made out in writing at the end of the month, updated on a daily basis. The Labor Code, however, does not address the question where the working time records should be physically stored.

Ban, S. Szabo, Rausch & Partners has advised E.ON Hungaria on the merger of trading companies Elmu-Emasz Energiaszolgaltato and Elmu-Emasz Energy Supplier into E.ON Energy Solutions.

The Hungarian Parliament passed a law at the beginning of October 2022 to set up a new anti-corruption authority called “Integrity Authority” as a part of a legislative package, that was aimed to reach a compromise with the EU regarding the withholding of funds.

According to a new government decree published in the Hungarian Gazette on 26 September 2022, taxpayers can pay their local business tax advance and local business tax from 1 January 2023 by transferring the amount in euro or US dollars. Taxpayers belonging to a special economic zone can pay the local business tax to the account opened for this purpose by the National Tax and Customs Authority.

Dentons has advised Groupama Gan REIM on its acquisition of the Freedom Palace in Budapest. 

Former Dentons Partner Annamaria Csenterics has joined Kinstellar in Budapest as a Partner to co-head the Corporate/M&A service line, including Real Estate and Private Equity, together with Gabor Gelencser.

Andersen Legal has advised Solar Markt on a long-term strategic agreement with investor Hiventures. Moore Legal Kovacs advised Hiventures.

There are substantial recent developments in dispute resolution and litigation in Hungary, with some uncertainty about the application of the CJEU’s jurisprudence to domestic litigation, as well as new arbitration rules coming into force, according to Provaris Managing Partner Istvan Varga.

The dynamic M&A and Private Equity practice has been the standard bearer for Jalsovszky in the past few months, mainly driven by the post-pandemic release of investment funds and booming production and healthcare sectors in Hungary, according to Practice Leader Agnes Bejo.

Penteris, HKV, and Oppenheim have advised Immofinanz on the acquisition of a retail property portfolio from the CPI Property Group for EUR 324.2 million. Reportedly, BPV Braun Partners advised Immofinanz as well.

The very vibrant levels of work in Provaris’ Digital and Technology practice are being driven by the latest ECJ decisions, legislative changes, and a rising tide of privacy awareness, according to Partner Adam Liber, Co-Head of the firm's Digital and Technology practice.

Former CMS Senior Counsel Csongor Tompa has joined Bird & Bird’s Budapest office as Head of the Banking & Finance and Capital Markets practices.

Ban, S. Szabo, Rausch & Partners has advised Focus Ventures and Hiventures on their investment in Continest Technologies.

Based on Directive 2019/1158 of the European Parliament and of the Council of 20 July 2019 on work-life balance for parents and carers and repealing Council Directive 2010/18/EU (“Work-Life Balance Directive”), as of 2 August 2022 all Member States shall apply rules to improve work-life balance for parents and carers. In particular, Member States must ensure for working fathers at least 10 working days of paternity leave around the time of birth of the child and the paternity leave should be compensated at least at the level of sick pay.