Business News from Hungary by Peterka & Partners
Stricter rules published on anti-money laundering and terrorist financing
The Hungarian National Bank issued two new decrees based on guidelines of the European Banking Authority and domestic supervisory experience. The new regulations introduce new details on requirements of external audit function, tighten the rules on identification of beneficial owners, and set out updated rules on electronic customer due diligence.
New special type of tax introduced called “defence contribution”
The Hungarian government announced an anti-war action plan that will impose a new type of contribution on certain companies which made extra profits since the Russo-Ukrainian war broke out. The new tax mainly affects the banking sector, large multinationals, and energy companies. Details of the defence contribution are to be published later.
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