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Multinationals to pay taxes where profits are made

Corporations often use loopholes to avoid paying taxes, by shifting profits to EU countries with lower taxes. New EU rules would put an end to this, since on 15 March 2018 members of the European Parliament voted in favour of the plans to establish a common consolidated corporate tax base.

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Exchange of views with ECON, IASB and IFRS Foundation

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…

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Client breakfast held by KCG Partners

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…

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Recommendation on the insurance requirements of FinTech companies

On 12 March 2018 the Hungarian National Bank (“MNB”) published its recommendation on the criteria on how to stipulate the minimum monetary amount of the professional indemnity insurance or other comparable guarantee. The addressees of recommendation are fintech companies, i.e. payment initiation service providers (PISPs) and account information service providers…

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Greater energy security for energy consumers

The Industry and Energy Committee accepted four legislative proposals on the EU electricity market in February 2018. In the context of the Clean-Energy package, the European Parliament committee approved a set of rules which could ensure a wider competition in the electricity market, better information for the consumers and tackles…

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New EU rules for cross-border parcel delivery

In March 2018 the members of the European Parliament adopted a proposal in order create a more transparent and competitive cross-border parcel delivery market. The proposal also aims at reducing the barriers consumers and e-retailers encounter when purchasing online in the EU.

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