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Hungary and the EU

Latest business news about Hungary and the European Union.

EU takes legal action against Hungary over migrants
The Commission has referred Hungary to the EU Court of Justice for non-compliance of asylum and return legislation with EU law, and sent a letter of formal notice concerning new Hungarian migrant legislation.

MEPs demand EU sanctions against Hungary
The human rights situation in Hungary justifies the triggering of an 'Article 7' procedure which may result in sanctions for Hungary, the European Parliament said in a resolution adopted on Wednesday.

Hungarian ad tax 'breaches EU State aid rules'
The Hungarian advertisement tax is in breach of EU State aid rules, the European Commission has found, because its progressive tax rates grant a selective advantage to certain companies.

Jewish life in Hungary: Achievements, challenges and priorities since the collapse of communism
A detailed look at Jewish life in Hungary based on interviews with a broad range of Hungarian Jewish leaders. It calls for greater levels of co-operation and co-ordination between Jewish communal organizations and initiatives, and stresses a need for a more religiously pluralist communal environment. Part of a four-paper series looking at Jewish life in east-central Europe since the collapse of communism, the authors of the Hungary report highlight the existence of a sharp critique of community management structures, and recommend urgent structural reform. The research was conducted by the leading specialist in the sociology of Hungarian Jewry, and was funded by the Rothschild Foundation (Hanadiv) Europe. A Hungarian language version is also available.

Hungary: country overview
Under the leadership of Janos KADAR in 1968, Hungary began liberalizing its economy, introducing so-called "Goulash Communism." Hungary held its first multi-party elections in 1990 and initiated a free market economy. It joined NATO in 1999 and the EU five years later. The most important sectors of Hungary’s economy in 2015 were industry (27.4 %), wholesale and retail trade, transport, accommodation and food services (18.3 %) and public administration, defence, education, human health and social work activities (17.6 %). Hungary’s main export partners are Germany, Romania and Slovakia, while its main import partners are Germany, China and Austria.

Excessive Deficit Procedure recommendations on Bulgaria, Germany and Hungary - guide
Along with the country-specific recommendations and the conclusions of the in-depth reviews, the European Commission is today also making three proposals to the Council related to the Excessive Deficit Procedure (EDP). Firstly, the Commission is recommending that the Council abrogate the EDP for Bulgaria and Germany, as foreseen in Article 126(12) of the Treaty. In March, Bulgaria and Germany notified that their 2011 general government deficit was below 3% of GDP. Following the validation of these figures by Eurostat on 23 April 2012, and also taking into account that the Commission's 2012 spring forecast shows that these deficits will remain durably below 3% of GDP, the Commission has concluded that the correction of their excessive deficits is ensured. Secondly, the Commission has adopted a proposal for a Council decision to lift the suspension of commitments from the Cohesion Fund for Hungary, after concluding that the country has taken the necessary action to correct its excessive deficit, in line with the Council Recommendation of 13 March 2012. More specifically, the Commission has concluded in its assessment that the 2012 budget deficit target of 2.5% of GDP is expected to be reached and the 2013 budget deficit is expected to be well below the 3% of GDP reference value, despite the slight weakening of the macroeconomic environment, as indicated by the Commission in its 2012 spring forecast. The Commission will continue to closely monitor budgetary developments in Hungary, in accordance with the Stability and Growth Pact.

Doing business in Hungary: Sustainability
Hungarian legislation defines certain rules that businesses have to follow in order to ensure that their activities do not have adverse social and environmental impacts.

Doing business in Hungary: Environmental rules
After joining the EU, Hungary redrafted nearly all of its environmental protection legislation.

Doing business in Hungary: Staff welfare
Social legislation in Hungary ensures equal opportunities for men and women and sets health and safety standards at the workplace.

Commission continues accelerated infringement procedure on independence of the data protection supervisor and measures affecting the judiciary and asks additional information on central bank's independence
The European Commission has decided on further steps following Hungary’s reply to three letters of formal notice of 17 January and their legal analysis. The promise to change Hungary's legislation affecting the independence of the central bank addresses some of the key concerns of the Commission. Now, the Commission says, Hungary needs to flesh out these commitments and provide evidence through new legislation. Hungary also needs to provide additional commitments and further clarifications. Depending on this additional evidence and information, the Commission says it will decide the next steps. At the same time, the Commission still has concerns about measures affecting the judiciary and the independence of the country’s data protection supervisor.

'Assessment of budgetary implementation in the context of the ongoing Excessive Deficit Procedures after the Commission Services' 2011 Autumn Forecast
The European Commission concluded that Hungary has not made sufficient progress towards a timely and sustainable correction of its excessive deficit and proposes to move to the next stage of the Excessive Deficit Procedure (EDP)

Contact lens law is clarified by EU Court
Banning the sale of contact lenses on the Internet on the grounds of consumer health is disproportionate to consumer health requirements, the European Court of Justice has ruled.

Hungary Mining Act violates EU state aid rules: EC
The European Commission has concluded that a 2005 agreement between the Hungarian government and the Oil and Gas Company MOL conferred a financial advantage on the company that cannot be exempted under EU State aid rules.

EU authorises compensation to electricity producers in Hungary
The European Commission has authorised, under EU State aid rules, an aid scheme to compensate electricity producers for costs incurred after liberalisation of the market in Hungary.

Representation of the European Commission in Hungary
Contacts of the European Commission representation in Hungary.

Hungary Investment Climate 2009
Hungary maintains an open economy and attracting foreign investment remains a priority for the Hungarian government.

Access to finance
The Hungarian state helps companies gain access to finance in many ways: direct support, indirect support, preferential loans, financial assets, etc.

Starting a business in Hungary
An overview of the process of starting a new business in Hungary.

Hungary and the euro
Hungary joined the European Union in 2004 and is currently preparing to adopt the euro.

Find an office in Hungary
Instant Offices Hungary

Hungary country profile
Formerly communist Hungary is one of the ten Eastern European countries that acceded to the European Union on 1 May 2004. Hungary is a landlocked state with many neighbours – Slovakia, Ukraine, Romania, Serbia, Croatia, Slovenia and Austria.

British Chamber of Commerce in Hungary
The primary objective of this support network is to foster trade and investment flows between the UK and Hungary.

World Bank Hungary Country Brief
Guide from the World Bank on the business environment in Hungary.

Doing Business in Hungary (HLBI)
Guide on Hungary from HLB International, which has produced a series of international booklets on accounting, taxation and company law information - pdf

Taxation and Investment Guide Hungary (Deloitte)
The Taxation and Investment Guides are a first stop for investors wishing to gain a working perspective on the operating conditions and investment climate – including the legal, accounting and taxation framework – in the countries covered in the Deloitte International Tax Source. In addition to the Hungary Highlights and Taxation and Investment Guide, above, country links open the door to the Deloitte International Tax Source and a wide range of materials and information on the tax consequences of doing business across borders.