UK mobile communications service provider Vodafone inaugurated a HUF 600m (EUR 2.15m) regional customer service centre in Miskolc (NW Hungary) on Tuesday.
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Parliament on Monday approved amendments to Hungary's tax laws, the daily newspaper Nepszabadsag reported on Tuesday.
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Hungary's foreign currency and forint-denominated budget debt slipped a combined HUF 153.2bn in May to HUF 19,052.4bn at the end of last month, most recent Finance Ministry figures show. The gross debt of the central budget stood HUF 948.4bn higher compared to the end of last year.
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Hungary's VAT will rise to 25pc from 20pc on July 1, while the excise tax on fuel, alcoholic beverages and cigarettes will also increase on this date.
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Prime Minister Gordon Bajnai said at a press conference following the summit of EU leaders in Brussels on Thursday that Hungary has and will continue to complete the tasks that the country has faced as a result of the global economic crisis.
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Czech food group Hame has purchased the meat-processing unit of Hungarian canned-food company Globus - Czech newspaper Hospodarske Noviny reported.
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PriceWaterhouseCoopers latest Tax & Legal Alert features mandments to Act XXII of 1992 on the Labour Code which enter into force as of 1 June 2009.
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The Hungarian Parliament has adopted Act No. XXXV of 2009 amending certain tax laws and related legislation for 2009. Details are featured in PriceWaterhouseCoopers latest newsletter.
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Based on current legislative proposals on reforming the Hungarian tax system in 2010, there are changes concerning credit institutions and financial enterprises expected to take effect in 2009. These changes are likely to extend the scope of current regulations to financial enterprises operating in accordance with prudential requirements (financial enterprises treated as equivalent to credit institutions under Section 87/A of Act CXII of 1996 on Credit Institutions and Financial Enterprises), and new regulations will be put in place for these economic operators. Read details featured in PriceWaterhouseCoopers' latest Newsletter.
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Based on recent news reports, there will be changes regarding the Advanced Pricing Arrangement (“APA”) for the years 2009 and 2010, which is regulated by Section 132/A § and 132/B § of Act XCII of 2003 on the Rules of Taxation (“ART”). PriceWaterhouseCoopers recent Newsletter is featuring the key changes to APA procedures, but warns that during legislative procedures, the concept might be changed.
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