The three-dimensional printing (“3D printing”) is a technological process where materials (such as liquid molecules or powder grains) are joined or fused together under computer control to create a three-dimensional object.
On 19 March 2018 the annual exchange of views between the Committee on Economic and Monetary Affairs (ECON) of the European Parliament and the representatives of the IASB and the IFRS Foundation was significant in respect of information about IFRS 9 ‘Financial Instruments’ and IFRS 17 ‘Insurance Contracts’. During this annual exchange of views, the participants had the opportunity to discuss issues concerning the development of international accounting standards and their endorsement and application in Europe.
From 2019 the turnover threshold of tax exemption may continue to rise which would allow more micro and small business to issue VAT-exempt invoices in the framework of the low tax-bracket scheme. Tax-payer companies under the low tax-bracket will benefit most of the change, even though the regulation does not directly affect the legislation applicable on them.
An interactive client breakfast was held by KCG Partners on 19 April 2018 on the conditions of the employment of foreign nationals in Hungary. The presentation gave an overview of the legislation governing the employment of third country nationals in Hungary, which might be a possible solution for the challenges resulted by labour shortage. The discussions also covered the main features of the authorisation procedures and the sanctions applicable in case of non-compliance. The client breakfast ended up with an informal conversation, where the participants could share their practical experiences. Many thanks to our colleague, Eszter Ila-Horváth for the successful presentation!
As of 1 July 2018, the provisions regulating the obligations of travel agencies in the Hungarian Commerce Act will be amended in order to comply with the EU directive on package travel and linked travel arrangements.