Personal income tax and VAT were introduced into the Hungarian tax system in 1988. This was a first step in a long process of tax reform. The next major step, undertaken in 1991, was the modernization of the corporate income tax system. In 1993, the VAT legislation was further modified to conform, at least in principle, to the VAT systems used in the European Union. 1995 witnessed the introduction of…
In order to harmonize the national law with the respective EU regulations as well as to establish a modern and comprehensive regulation of business entities, Hungary implemented substantial changes to its corporate law in 2013. The new Hungarian Civil Code (Act V of 2013 on the Civil Code) came into effect on 15 March 2014 that incorporates the fundamental regulations and obligatory rules for all economic entities. The Act V…
Hungary is a member of the OECD and the NATO, part of the European Union’s internal market and the Schengen Area. Hungary became a full member of the European Union on 1 May 2004. Ten arguments why Hungary is the suitable investment location in Central Europe: 1. Great location in the heart of Europe 2. Dynamic economic growth 3. Business-friendly environment 4. Membership in the European Union and NATO 5.…
Questions regarding Business Immigration to Hungary? Contact us! E:dobos@doboslegal.eu T:+3630 3088151
What does the procedure look like when founding a company? What kind of steps have to be followed? In principle we can speak of two kinds of procedures. Our client can freely choose if he/she travels to Hungary and signs all documents before one of our lawyers or he/she can choose to sign these documents in his/her own country of origin and send them to us by post. In the…
