May 2009

PWC Latest Tax Newsletter Features New Tax Provisions Adopted By the Hungarian Parliament

In its session on Monday, 4 May, the Hungarian Parliament passed a bill into law. The bill was presented in March and introduces changes to certain tax laws and related legislation, due to take effect this year.

Barroso: Hungary Taking Appropriate, Sufficient Measures

Hungary is taking appropriate and sufficient measures to "turn around" its economy, or put it on the growth path, European Commission President Jose Manuel Barroso said after meeting with Prime Minister Gordon Bajnai in Brussels on May 5.

Support for Four Life Sciences Research Projects

Hungary's National Research and Technology Office (NKTH) and Singapore's government organization responsible for R+D A*Star have decided to award a combined HUF 488 million in grant money to four life sciences research projects.

Colliers International: Class B and C Market Gaining Attention

Real estate advisors and tenants generally focus on Class A office buildings on today’s market. However, thanks to an intensifying competition and a changing market, the Class B and C market, which have for long been in the shade, are also gaining attention.

Limitations on the Unilateral Amendment of Bank Loan Agreements

Hungary’s Official Gazette summarized and interpreted the new legislation limiting the right of the banks in Hungary to unilaterally amend bank loans to the burden of private and entrepreneurial debtors.

News Monitoring