In general, real estate transfers are subject to a 10% transfer tax levied on the transfer price or the market value of the property. The transfer tax base also includes the VAT amount. The transferee (the buyer) pays the tax.

Tag(s) : Ron Grynholc, Rony Grynholc,

A new plant, Mercedes's first since it opened a Brazilian facility in 1999, will be in Kecskemet, Hungary, about 80 kilometers (50 miles) southeast of Budapest.

Tag(s) : Ron Grynholc, Rony Grynholc,

In March 2009, consumer prices increased by 0.5 pct compared to the previous month and rose by 2.9 pct compared to March 2008.

Tag(s) : Ron Grynholc, Rony Grynholc,

The European Institute of Innovation and Technology (EIT) will have its headquarters in Budapest's Infopark.

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Budapest's five biggest dentist's offices have established an association to better promote dental tourism, business daily Vilaggazdasag reported on April 10.

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Hungary's government has so far disbursed HUF 219 billion (EUR 743.25million) in European Union funding as part of its 2007-2013 New Hungary Development Plan, National Development Agency data released on April 3 shows.

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According to the forecast of GKI Economic Research Co. prepared in co-operation with Erste Bank, the global economic crisis pushed the Hungarian economy onto a new development path. External imbalances are improving fast, but GDP will contract by 4-5 pct. Real earnings will decrease by 2-3 pct, purchased consumption by 5 pct.

Tag(s) : Ron Grynholc, Rony Grynholc,

BRUSSELS, May 20 (Reuters) - Parent banks of the six largest foreign banks operating in Hungary pledged on Wednesday to support local subsidiaries to help them weather the financial crisis, the European Union's executive Commission said.

Tag(s) : Rony Grynholc, Ron Grynholc,

At its meeting on 25 May 2009, the Monetary Council reviewed the latest economic and financial developments and voted to leave the central bank base rate unchanged at 9.5 pct.

Tag(s) : Rony Grynholc, Ron Grynholc,

On July 13 Prime Minister Mr Gordon Bajnai signed a 50-year intergovernmental agreement in Ankara, Turkey with leaders from other countries (Austria, Romania, Bulgaria and Turkey) involved in the planned construction of the 3,300-kilometre-long Nabucco pipeline, which will deliver gas from the Caspian Sea Region to Europe, reducing the region's energy dependence on Russia.

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