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Under Hungarian law, conciliation boards were set up more than two decades ago, which provide a fast, efficient and inexpensive forum for dispute resolution compared to litigation in specific cases. The competence of the conciliation boards in relation to goods and services covers (i) the quality and safety of the services; (ii) application of product liability rules; and (iii) conclusion and performance of contracts. This type of conciliation can only be initiated by the consumer as an individual.

From 1 January 2024, taxpayers can benefit from a tax allowance for investments in the construction of electricity storage facilities. The tax allowance is available for 6 tax years, with the first tax year being either the year of installation or the following tax year, at the taxpayer's option. This incentive is intended to encourage the installation of new electricity storage facilities which enable the taxpayer to store electricity generated for its own use.

Ban, S. Szabo, Rausch & Partners has advised E.On Drive Infrastructure on establishing a new Hungarian subsidiary and acquiring the electro-mobility charging infrastructure from E.ON Hungaria, to continue operating as a stand-alone network in Hungary.

Starting on 1 January 2024, a new feature was launched regarding personal income allowances, meaning that certain tax base reduction allowances can also be claimed on a continuing basis. The purpose of the existing tax advance return is to allow the employer to determine and deduct the tax advance, considering both benefits and costs.

Nowadays, one can hear a lot about generative artificial intelligence ("Generative AI"), which can be used to create different types of content (e.g., text, images, software source code) in an automated way by giving simple instructions (so-called "prompts"). Companies may reasonably ask whether it is worth investing, at this point, in software using Generative AI; however, the current Hungarian legislative environment does not provide answers to this question, which could clearly provide guidance in all cases, on a general basis. For this reason, the legal implications of each investment (be it either procurement or "in-house" development) need to be examined on a case-by-case basis.

According to a draft legislation on digital companies issued at the end of 2023, “digital companies” would be exempt from paying public burdens and local business tax. Employees in employment relationships and the executives of companies could fulfil their tax payment obligations after their income through special public burden contributions.

The legal status of platform workers (e.g. food couriers) is continuously subject to interpretation and often times scrutiny from the authorities. The Hungarian Curia settled the status in its latest decision, at least from a labour law point of view.

David Hanis joined Oppenheim in Budapest to specialize in energy fresh out of law school, and has never looked back. 15 years later, just before Christmas 2023, CEE Legal Matters reported on his appointment to a Partner position at the same firm. Demonstrating you can move forward by staying in the same place, he shares his story below.

Most of us have likely encountered a situation where we bought our favourite chocolate at the grocery store, only to be surprised upon opening it at home to find that the size and weight of the chocolate had decreased, while the packaging and price remained unchanged.

Hungary Knowledge Partner

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

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