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 […]
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 […]
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 […]
