How to Rent Out Your Property and Escape from Paying a Fine September 20th, 2013

The Hungarian National Tax and Customs Administration is supervising the implementation of tax rules related to renting out apartments more frequently. The property owners' ill-wishers often report them to the tax administration wishing they would have to pay a fine for not paying taxes after their income. Thus, if those who llet would like to escape from fines, they'd better have their books done by real tax experts. The Hungarian National Tax and Customs Administration is supervising the implementation...

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Madách tér Is to Be Renewed: a Fountain Replaces the Parking Lot September 12th, 2013

The renewal of Madách tér located in the 7th district starts in October. According to the plans the square is to be a real community place with green areas, trees, bicycle racks, benches and a fountain. The old ducting will be replaced and the parking lot will be knocked down. The renewal will cost HUF 150-200 million, and can be finished in a few months.   The renewal and modernizing of Madách tér can be started at the beginning of October and finished in a few months. The 85-year-old...

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Japanese-Hungarian Partnership Grows Stronger: the New Suzuki Model is Out September 12th, 2013

Hungarian Prime Minister Viktor Orbán, the Japanese ambassador to Hungary and the president and CEO of Suzuki Motor Corporation welcomed together the beginning of the Hungarian mass production of Suzuki’s new model. In the factory located in Esztergom more than 2 million cars have been manufactured since it’s opening in 1991.   Hungarian Prime Minister Viktor Orbán, Japanese ambassador to Hungary Yamamoto Tadamichi and the president and CEO of Suzuki Motor Corporation Osamu Suzuki welcomed...

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HUF 48-Billion-Worth Investments Were Realized in Hungary in the First Half of 2013 September 12th, 2013

Up to July 2013 in total HUF 48 billion worth real estate investments were realized in Hungary. The North American and the Middle Eastern investors are more and more active in the European real estate market. They were responsible for one quarter of the Hungarian real estate transactions. Since 2007 this has been Europe's best quarter. According to the newest data of commercial property and real estate services adviser CBRE EUR 163 million (HUF 48 billion) worth investments were realized in Hungary...

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Foreign Currency Mortgage Loans’ Monthly Repayments May Be Reduced September 9th, 2013

The Hungarian government got a law proposal from the Hungarian Banking Association about changing foreign currency loans into home currency loans at the end of August. If this will be made into an actual law, the monthly repayments can be reduced by 16 percent. This would be good news for all those who took a foreign currency mortgage loan, including foreign investors.   Hungarian government got several law proposals from the Hungarian Banking Association on the 27th of August, including one...

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Tram Line No. 2 is the World's 7th Best Line September 9th, 2013

The renowned American magazine, National Geographic made a list of the top 10 tram lines of the world, and gave the Budapest tram line no. 2 the 7th place. Tram line no. 2 became the best line in Europe, better than the lines of Lisbon or Amsterdam. The tram line passes some of Budapest's most beautiful buildings, like the Parliament Building or the Hungarian Academy of Sciences. The tram line no. 2 of Budapest is amongst the top 10 lines of the world. The world famous American monthly magazine,...

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