Bill on new tax-package: changes are to be expected on several fields

The new bill on the amendment of certain tax laws submitted by the Hungarian Minister of National Economy on 2 May 2017 targets to increase the competitiveness of the economy and the simplification of the taxation and tax administration. According to the bill, the taxation related to practice rights will become more favorable, and the healthcare contribution concerning the lease activity will be annulled.

Online Dispute Resolution platform

Although the EU laws provide high level of consumer protection, in practice the consumers’ rights are often violated, especially when they buy products from online traders. As a response, the European Commission introduced the Online Dispute Resolution (ODR) website in February 2016, in order to facilitate the out-of-court dispute resolution between consumers and online traders.

New Guidelines are expected in the CRA Regulation

The Paris-based European Securities and Markets Authority (ESMA) published a consultation paper targeting the update of the 2011 Guidelines on the application of the endorsement regime under the Credit Rating Agencies (CRAs). According to the CRA Regulation, if the credit ratings made by a third country are endorsed by an EU CRA, they can be used for regulatory purposes in the EU, accordingly, it shall be regarded as if it was made by an EU CRA.