Business News from Hungary by Peterka Partners
Stricter rules for influencers
The Hungarian Competition Authority will publish its new influencer marketing leaflet, which will provide much more detailed guidance for influencers on how to operate in a lawful manner. The new leaflet shall now include things and virtual entities (e.g., animals, digital characters) as well as people under the definition of “influencer”. The Authority regards as consideration "any benefit provided for publication", which, thus, is not limited to financial payment.
25% maximum interest on late payments
During the period of the state of emergency, any interest on late payments can be enforced up to a maximum rate of twenty-five percent per year, and in the part exceeding this, it must be considered as if it had not been contracted at all. This provision applies not only to contracts to be concluded in the future, but also to the enforcement of interest on late payment of contracts already in force.
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