The amendment to the Local Taxes Act, which entered into force on 1 January 2015, allowed local governments to levy a municipal tax on any taxable subject within their jurisdiction that is not prohibited by law and is not subject to a statutory public tax.
Grid Connection to the Public Network by Household Solar Power Systems Will Be Available Again Soon
The Hungarian renewable energy sector has recently undergone a huge development, mainly focusing on photovoltaic power plants. In Hungary, rooftop photovoltaic projects are mainly widespread among households and companies to cover their own electrical needs. These projects are so-called household power plants, which are basically micro power plants connected to the low-voltage system.
Closing: Kommunalkredit EUR 37.5 Million Financing for 63-Megawatt Senyo PV Plant Now Closed
On September 20, 2023, PHH announced that Kommunalkredit's EUR 37.5 million financing for the 63-megawatt Senyo photovoltaic plant in Hungary – commissioned by Green Source and Core Value Capital – (reported by CEE Legal Matters on August 7, 2023) had closed.
Charting CEE’s Changing M&A Tides: An Interview with Markus Piuk of Schoenherr
M&A in the CEE region has been a captivating theater of evolving trends and geopolitical dynamics of late. Schoenherr Partner Markus Piuk shares his insights on the current market trends and delves into the influence of the US-China relationship, the status of Russian-based transactions, the resilience of the CEE M&A market, and the prospects of industry consolidation and growth.
DLA Piper Advises on Roseville Office Building Sale
DLA Piper has advised the RV Ingatlan Befektetesi Alap fund on its acquisition of the Roseville office building in Budapest from Atenor.
Kinstellar Advises Electrolux on EUR 38 Million Sale of Hungarian Facility to Qvantum
Kinstellar has advised the Electrolux Group on the sale of its manufacturing facility in Nyiregyhaza, Hungary, to Qvantum for EUR 38 million. CMS reportedly advised Qvantum.
The Legislation for the Extraction of Geothermal Energy May Change
The Hungarian Government plans to further develop the regulatory framework for geothermal energy, according to the REPowerEU chapter of Hungary’s Recovery and Resilience Plan.
More and More Tax Audits – It's Wise to Stay Vigilant
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.
Can a Harsh Facebook Comment be a Lawful Ground for Dismissal in Hungary?
Social media platforms significantly changed the ways how people express their opinions: sharing views became easier than ever. On the one hand, this is positive, but on the other hand, it is also dangerous in the employment context, as the employee's opinion may be prejudicial to the employer's interests. A recent decision of the Hungarian Supreme Court gives answer to the question whether the employer can dismiss the employee for expressing his opinion on Facebook.
Regulation of Artificial Intelligence – How Long Until the Future is Here?
The regulation of artificial intelligence (AI) is not a new issue. We understand that the use of such technologies can bring many benefits - such as better healthcare, safer and cleaner transport system, more efficient production, or cheaper and more sustainable energy - but we also are aware that they can pose significant risks if not properly regulated.
Schoenherr Advises Standard Motor Products on Industrial Facility Purchase in Hungary
Schoenherr has advised Standard Motor Products Inc. on its asset-deal purchase of an industrial facility in Pecel, Hungary, from German production company Certus-WM Group International. Germany's Ladenburger Rechtsanwaelte advised the seller.
Lakatos Koves & Partners Advises ConvergenCE on Lease Agreement with Arago Group
Lakatos Koves & Partners has advised ConvergenCE on the lease agreement with its new tenant, the Arago Group, which will be moving into the Academia office building in Budapest.
Hungary: An Example of a Pitfall for International Transactions Coming Out of Hungary
Merger control clearance is a key issue in planning and implementing larger M&A deals due to the standstill obligation established by Council Regulation (EC) No 139/2004 (EUMR) and most national competition laws within the EU. If the EUMR is applicable to a transaction, a one-stop-shop system is granted where the Commission has exclusive jurisdiction for merger clearance and the merger clearance regimes of Member States are disregarded.
The Hague Judgments Convention Entered Into Force in September 2023 in Hungary
The Hague Convention on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters (“Convention”) entered into force on 1st September 2023 in all EU countries (except Denmark). What impact will the Convention have in relation to the enforcement of third country judgments in Hungary and the enforcement of Hungarian judgments in third countries?
Oppenheim Advises Colliers on New Headquarters Lease in Budapest's Bem Center
Oppenheim has advised Colliers on the lease agreement for its new Budapest headquarters in the Bem Center building located in the city's first district.
Dora Zombori Joins Dentons as Partner in Budapest
Dora Zombori has joined Dentons’ Budapest office as a Partner, to strengthen the firm's Energy and Government Affairs practice.
From Sea to Sea to Shining Sea: 12 CEE Law Firms Band Together To Launch the Three Seas Legal Alliance
During the Three Seas Initiative annual general meeting in Bucharest in September 2023, Austria's Dorda, Bulgaria's Boyanov & Co., Croatia's Divjak Topic Bahtijarevic & Krka, the Czech Republic's Kocian Solc Balastik, Estonia's Ellex Raidla, Hungary's Lakatos Koves & Partners, Latvia's Ellex Klavins, Lithuania's Ellex Valiunas, Poland's Wardynski and Partners, Romania's Nestor Nestor Diculescu Kingston Petersen, Slovakia's Barger Prekop, and Slovenia's Selih & Partnerji announced they formed the Three Seas Legal Alliance, in recognition of the progress made by the Three Seas Initiative.
Stolen Time – He Who Gains Time, Gains Everything
The Government Decree on the winter administrative break is out. Here’s what to expect.