Business News from Hungary by Peterka Partners
Carbon regulation published
On the grounds of energy security, the export of nine types of domestically-mined coal products is subject to prior approval. After the mandatory notification, the minister responsible for energy policy will examine whether the sale or export of such products abroad significantly impedes or renders impossible the supply of raw materials necessary to maintain Hungary’s energy security, endangers public supply, or poses a risk to energy security. Hungary also has right of pre-emption and right to purchase.
CIT payment possible in EUR, USD
Up until now, tax payments in Hungary were only possible in HUF, but the government has now created the possibility of paying such obligations also in EUR or USD where corporate income tax is concerned. The choice of such foreign currencies is conditional upon prior notification of the tax authority. Exchanges are made using the currency exchange rate of the Hungarian Central Bank.
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