1,111 complaints have been submitted to the Constitutional Court of Hungary by domestic solar panel users, who argue that the change in the balance accounting system is causing them significant financial disadvantages. Specifically, the amendment introduces a monthly gross settlement after 10 years of solar panel installation.

Labor shortages have emerged as a pressing issue across CEE, prompting diverse responses from governments, businesses, and the public as they navigate the challenges of workforce gaps and economic sustainability.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As sunny days recede, the fall conference season is upon us, so we asked: How do you determine which Partner attends which events?

One of the sectors contributing the most to the Hungarian GDP is tourism, with nearly 16 million guests spending more than 41 million overnight stays in Hungary in 2023. According to the data of the Hungarian Central Statistical Office, foreign tourists spent 11,866,669 overnight stays in Hungary in 2023, of which 59.20% chose hotels, 32.36% stayed overnight in private and other accommodations, and 8.44% chose community accommodations.

On December 12, 2024, Wolf Theiss announced that Standard Motor Products' acquisition of Nissens Automotive (as reported by CEE Legal Matters on July 23, 2024) has closed.

Hungary is gearing up for a groundbreaking shift in corporate governance, with the proposed law aimed at improving gender representation in leadership positions at publicly traded companies. By implementing the relevant EU directive, the proposed law does not only seek to address long-standing gender imbalances but still promotes greater access of women to the labor market participation.

The Hungarian Parliament is debating several major laws at the end of 2024, including amendments to the Act on the election of the Members of the Parliament (‘Election Act’), another amendment to the Fundamental Law of Hungary and new rules on hate speech.

The Hungarian Parliament approved the autumn tax package on 26 November 2024. The amendments introduce significant changes to direct and indirect taxes alike, the most important changes are summarized below.

Lakatos, Koves & Partners has advised Ceva-Phylaxia on establishing a new vaccine production facility in Monor, Hungary.

Following the restrictions in the Far East, all companies operating online marketplaces in Hungary can expect significant tax changes and a new tax burden from January 2025.

Oppenheim has advised Generali Biztosito on its sale of its minority stake in Fundamenta Lakaskassza to MBH Bank. DLA Piper advised MBH Bank.

DLA Piper Hungary marks a major anniversary, celebrating 20 years in the market since its establishment in 2004. Country Managing Partner Andras Posztl speaks about the firm’s sustained success and its commitment to innovation and growth as it looks to the future.

Former NGL Symbio alliance founding members Rowan Legal, Erdos Partners, Biris Goran, and HKV have announced a new set-up under the Horizons Alliance brand.

Hogan Lovells has advised Hungarian oil and gas company MOL on the sale of its 49% stake in Eneos MOL Synthetic Rubber to Japan-based Eneos Materials Corporation. Oppenheim, working with Freshfields Bruckhaus Deringer, advised Eneos Materials Corporation.

On 16 October 2024, the Hungarian Government decided on a new economic policy action plan consisting of 21 measures, which also addresses the situation of short-term housing in the capital. The Government intends to tighten conditions for providing private accommodation services, i.e. Airbnb, to solve the worsening housing crisis in Budapest.

Factoring has emerged as an essential financial solution for businesses in Hungary, offering a fast and flexible way to maintain cash flow and bridge liquidity gaps, especially for those with extended payment terms in sectors like agriculture, manufacturing and logistics. However, navigating Hungary’s complex regulatory landscape can pose challenges for companies seeking to use factoring to its fullest potential. With options like silent factoring available to help preserve client relationships and a need for thorough understanding of local laws, businesses can benefit significantly from a strategic approach. This article explores the advantages of factoring in Hungary, along with key regulatory considerations to ensure compliance and stability in companies’ financial operations.

On 29 October 2024, the Hungarian Ministry of National Economy announced that new laws are submitted to the Parliament to increase the period available for requesting paternity leave.

Hungary’s economy and legal market have faced a tough year, shaped by political tensions, economic challenges, and global uncertainty, according to Pontes Budapest Partner Csaba Polgar, and from delayed investments to unpredictable regulations, the market has been navigating a challenging and uncertain landscape.