Fiduciary trusts as a legal institution are one of the latest steps in the development of Hungarian civil law. Since their introduction in 2014, they have become more widely used and more widely known. We would now like to present the legal background of this legal instrument, focusing more on the person of the trustee. […]
After a lengthy debate, the Hungarian Parliament has passed the law on additional taxes to ensure a global minimum tax level and, in this context, amending certain tax laws, putting an end to the case. Before we start getting angry that another tax has to be paid by our company, let’s clear: we don’t have […]
The mandatory minimum amount of basic pay (minimum wage) changes in an unusual way during the year – from December 1st, 2023. The minimum wage from the December 1st of 2023 HUF 266 800 for monthly wages Guaranteed minimum wage for an employee in a job requiring at least secondary education or training HUF 326 […]
STEP DIRECTORY – HUNGARY professional licensed trustee ad-hoc trustee Type of trust Revocable, testamentary or inter vivos, discretionary or non-discretionary, private or charity Revocable, testamentary or inter vivos, discretionary or non-discretionary, private or charity Who can be settlor Anyone (corporate or private, local or foreign) Anyone (corporate or private, local or foreign) Limitation of […]
Personal Income Tax From 12 September 2023, the Hungarian Personal Income Tax Act will consider the transfer of assets as a sale. This means that the settlor will have to pay tax on the difference between the contract value of the assets transferred and the amount spent on their acquisition. The trustee will have to […]
On 24 July 2023, the so-called Complaints Act came into force, which covers a wide range of employers, so we have gathered the most important questions and details about the so-called whistleblowing system. The new law repealed the ‘old’ law, which was Act CLXV of 2013 on Complaints and Public Interest Disclosures. The new Complaints […]
The Hungarian Gazette of 14 July 2023 contains the provisions of the bill submitted on 6 June, which have now been incorporated into law. In the Act on the Contribution of Airlines and on the Amendment of Certain Tax Laws, we can observe changes affecting almost all tax types, several of which will significantly affect […]
Internal feuding can make the operation of a family business impossible. If the owners and managers of the company cannot work together, the firm will soon suffer. Problems between the stakeholders of family companies are often even more challenging to solve due to emotional relationships. Business owners must look at a company’s operations from a […]
In the next four posts, we will discuss the foundation, the private foundation, the trust, and the trust foundation in a few thoughts, summarising the most important facts. We will look at all four institutions from the same perspective, which we will summarise in a table for our kind readers at the end. The topic […]
In the next four posts, we will discuss the foundation, the private foundation, the trust, and the trust foundation in a few thoughts, summarising the most important facts. We will look at all four institutions from the same perspective, which we will summarise in a table for our readers at the end. The topic of […]