The so-called Integrated Legislation System (ILS; in Hungarian: Integrált Jogalkotási Rendszer) is planned to be implemented in Hungary by the end of 2018. The main purpose of the ILS is the reduction of the administrative burdens of the public administration and the increase of the quality of the services for citizens and companies by the administration.
Hungarian businesses have the “sword of Damocles” hanging over their head as the new European data protection regulation (“GDPR”) is applicable as of 25 May 2018. Due to the fact that the majority of the Hungarian companies are micro-enterprises, the administrative burdens cause an impossible obstacle to them.
Under the Hungarian VAT Act, from 1 January 2016 instead of the general VAT tax rate of 27%, a reduced tax rate of 5% is applicable to the flats to be constructed or existing in a multi-unit residential building with a total net floor space not exceeding 150 square meters.
The European Commission proposed new company law rules on 25 April 2018 to provide companies better business opportunities in the EU’s Single Market and to ensure that cross-border operations (conversions, mergers and divisions) are accompanied by adequate safeguards against abuse.
According to the Working Party 29 (WP29), i.e. the group uniting the European data protection authorities, the practice of harvesting personal data from social media for economic or political reasons has become much wider spread recently.