The European Council adopted an amendment to the Posting of Workers Directive on 21 June 2018. The purpose of the revised Directive was to ensure fair competition for companies and better protection for workers who have been sent by their employers to perform services in another EU Member State on a temporary basis.
From 1 January 2020, the reduced tax rate of 5% 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 and to the single-unit residential building with a total net floor space not exceeding 300 square meters will be terminated and the general VAT rate of 27% will be applicable for the sales of such residential properties.
The EU Commission and consumer authorities warned Airbnb (online accommodation marketplace) to align its terms and conditions with EU consumer rules and to be transparent on pricing.
The first plenary session of the EU Parliament in the second semester of 2018 was held on 11 September, where the main challenges and topics of the next six month have been outlined. The first significant issue of the fall semester of 2018 is about the single digital market.
According to an amendment to the Hungarian Corporate Income Tax Act approved in July 2018, taxpayers may be eligible for higher tax allowance in connection with an investment project to comply with energy efficiency targets, upon placing the project into operation, in the tax year following the year when the project was placed into operation – or in the same tax year at the taxpayer’s discretion – and in the following five tax years.