NEWS
10% CIT Rate to Definitely Replace the 19% CIT Rate
In the summer of 2010, the record low corporate income tax (“CIT”) rate of 10% for up to a ceiling of HUF 500 million tax base was introduced. At that time, the Hungarian Government wanted to implement the reduced CIT rate for all companies; however, due to the worldwide economic crisis that of course also […]
New Labor Code in Hungary
As part of the government efforts to launch economic growth, raise employment rates and reduce administration, the government introduced a bill relating to the Labor Code to the Parliament on 3 June 2011. The amendments aim to reduce the employer’s burdens and to allow a more flexible workforce management. With the new rules, the employer […]
New Public Procurement Rules in Hungary
On 21 July 2011, the Parliament approved the new Act on Public Procurement that will completely replace the current regulation. The new Act will enter into force on 1 January 2012. The Act CVIII of 2011 on Public Procurement is significantly shorter, its content being about the half in comparison to the previous law. As […]