Already last year, it was noticeable that after several years of decline, the Hungarian Tax Authority conducts more and more tax audits. In 2022, the number of tax audits increased by 6.2% compared to the previous year. Experience shows that this trend is expected to continue even more strongly this year. The most commonly audited tax category remains VAT.
The Corner Office: Partnership Tracks
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As key steps, requirements, and timeline for becoming a Partner may vary from firm to firm, this time we asked: Does your firm have a formal Partnership Track and if yes, what does it involve?
The Four-Day Working Week – A Genuine Possibility or Just a Passing Whim?
From time to time, there’s news of companies introducing four-day work week. Magyar Telekom has been mentioned several times as the first big fish to do so, but Libri, too, has apparently done the same, as have various local subsidiaries of foreign parent companies. The obvious question is whether this option is available to everyone and, if so, at what price.
More Tax Revenues Collected Than Expected in 2022
The yearbook of the Hungarian tax authority summarising the most important tax events and statistics for 2022 has been published. It shows, among other things, the number of fines imposed and the effectiveness with which the tax authority's decisions can be challenged. We have compiled the most important and informative figures from the yearbook.
Walk Fast, Get Further: It's Not Worth Waiting With Trademark Applications
Whichever product or service you are discussing, there are certain names, images or slogans that immediately come to mind. When setting up a business, it is crucial for any founder that the brand they represent has a distinctive, recognizable, ringing name. Building a solid business reputation is a long and bumpy road, but safeguarding legal protection for a brand name or logo to ensure exclusivity is much easier than many people think: the solution lies in trademark protection.
Adam Boross Joins Jalsovszky as Head of Banking and Finance
Former Deloitte Legal Managing Associate Adam Boross has joined Jalsovszky as its new Head of the Banking and Finance group.
The Tax With a Million Faces – A Fresh Look At Municipal Taxes
In 2016, when local authorities had been able to levy municipal taxes for more than a year already, we summarised the lessons that had been learned up to then from this newest genre of local taxes. At the time, we were waiting with bated breath to see what the future would bring, that is; to see just how creative local governments would get in thinking up new taxes. So what did ever happen to the ‘kitsch tax’, the ‘pony tax’ and all those other local levies? Now that a few years have passed, the time has come for us to once again peer into the weird and wonderful world of municipal taxes.
The Corner Office: The Next Booming Practice
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With the first quarter of 2023 wrapped up, we turned to the future and asked: In which practice area do you expect the most growth – in terms of work volume – in the next 12 months?
All Hail the Superbank
In recent years, the major development in Hungary’s banking system is the establishment of the country’s superbank through the merger of Budapest Bank, MKB Bank, and the Takarek Group. DLA Piper Partner Andras Nemescsoi, Forgo Damjanovic & Partners Managing Partner Gabor Damjanovic, and Jalsovszky Law Firm Managing Partner Pal Jalsovszky share insights into the driving forces behind this development, its current status, and its anticipated impact on Hungary’s banking sector.
Harassed at Work? Now It's All Coming Out
Under a law passed by Parliament yesterday, all companies with more than 50 employees will be obliged to have a whistleblowing system in place from December. Employers with 250 employees cannot wait any longer, as they will have 60 days to implement the system. The question is, of course, whether companies will see the regulation as another unnecessary administrative burden or whether it will trigger an avalanche of internal investigations.
Special Tax, Supplementary Tax, Contribution – A Significant Increase in the Number of Taxes
Social and economic changes in 2022 have broken a long downward trend recently, with the number of tax categories increasing from 51 to 59 last year. We give you the latest lowdown.
The Corner Office: The Million Dollar Question
In “The Corner Office” we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With a rough year drawing to a close, and market uncertainties running high, the question this time: If you had a million dollars, what would you invest it in today?
A Closer Look: Jalsovszky's Agnes Bejo on Zambo Vagyonkezelo Sale of Tuzallotechnika
On November 28, 2022, CEE Legal Matters reported that Jalsovszky had advised Zambo Vagyonkezelo on the pre-exit restructuring and sale of Tuzallotechnika to Alba Industrial Holding. CEELM reached out to Jalsovszky Partner Agnes Bejo to learn more about the transaction.
Agnes Bejo Makes Partner at Jalsovszky
Jalsovszky’s Head of Corporate and M&A and former Senior Associate Agnes Bejo has been appointed as a Partner with the firm.
Peter Szilas Joins Jalsovszky to Head Commercial Litigation Practice
Former CMS Senior Counsel Peter Szilas has joined Jalsovszky as a Senior Associate and Head of the firm's Commercial Litigation practice.
Jalsovszky and Peremiczki & Turi Advise on Zambo Vagyonkezelo's Sale of Tuzallotechnika to Alba Industrial Holding
Jalsovszky has advised Zambo Vagyonkezelo on the pre-exit restructuring and the sale of Tuzallotechnika to Alba Industrial Holding. Peremiczki & Turi advised the buyer.
Hot Practice in Hungary: Agnes Bejo on Jalsovszky’s M&A and Private Equity Practice
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.
The Buzz in Hungary: Interview with Tamas Feher of Jalsovszky
Growing inflation and budgetary limitations are the key challenges faced by Hungary's newly elected parliament, according to Jalsovszky Law Firm Partner Tamas Feher.