Application of Facial Recognition Systems in Stores from the GDPR Perspective
The continuous advancement of technology offers new opportunities in retail, but it also raises numerous legal issues, particularly regarding the protection of personal data. The use of facial recognition systems in stores – while providing an effective tool for enhancing customer experience and increasing security – can present significant data protection challenges, especially in light […]
Tax benefits
Tax benefits for SMEs and micro and small enterprises: No innovation contribution needs to be paidMicro and small businesses do not have to pay innovation contribution (middle-sized businesses, however, do). The innovation contribution, along with the local business tax, represents a higher tax burden for many companies than corporate tax. No transfer pricing documentation needs […]
Integration of Home Office into the Labour Code
In order to integrate home office into the Hungarian legal system, the legislator chose the following solution. Instead of regulating it through new codification, the Labour Code (Act I of 2012) was amended, and the rules for one of its atypical forms of employment, teleworking, were expanded so that they could also apply to regular […]
The Hungarian Competition Authority (GVH) on Influencer Marketing
In response to the growing activity in influencer marketing, the increasing number of new influencers entering the market, and the businesses collaborating with them, the Hungarian Competition Authority (GVH) has released a consolidated information guide. This guide explains the advertising rules and the recent decisions made by the competition authority through specific examples. The document […]
Avoiding Tax Disadvantages on Real Estate Income from Trust Asset Management
Trust Asset Management has become one of the most popular means of managing family assets, thanks to its asset protection functions and favorable tax environment. However, it is not unimportant what assets the settlor places in the trust management, as a bad decision can easily undermine the favorable tax assessment of the asset management. Trust […]
Plans to Restrict Real Estate Purchases
Surprising Draft Law to Protect Small Settlements Recently, Tibor Navracsics, the Minister of Regional Development and Public Administration, presented an extraordinary draft law aimed at protecting small settlements. The proposal seeks to preserve the identity, community, and economic stability of rural towns against real estate market speculation. The draft law includes several unexpectedly strong measures, […]
ESG: Three letters every Hungarian company should pay attention to
After the GDPR and whistleblowing rules, another EU directive is coming that will probably affect the activities of all companies operating in the European Union sooner or later. ESG (Environmental, Social, Governance) is getting more and more attention in the investment community, and the English term refers to environmental, social and governance aspects. ESG aims […]
Is the executive liable for the fine imposed on the company?
In the event of a violation of competition rules (for example, cartelization, i.e., collusion with competitors), the fine can reach 10% of the company’s entire group’s turnover, which can be in the billions. The question is whether the CEO can be required to reimburse the fine imposed on the company?In June 2010, the European Commission […]
The Hungarian warranty regulations governing consumer sales contracts will change from January
Due to the transposition of European Union directives, the Hungarian regulations governing consumer sales contracts will change drastically from January 1, 2022, affecting all businesses that are directly or indirectly “in touch” with consumers. It is worth starting to prepare, and not only for the selling party that contracts directly with the consumer, i.e. distributors […]
What to look out for in the event of a construction project
When determining the value of a property, we must consider many factors. Among many other things, we cannot ignore such features as the view from the property (the panorama) or the natural lighting of the rooms. It is clear that the sunset over Lake Balaton that opens up before us from our window has a […]