Regulatory update – Hungary

In accordance with the Hungarian Civil Code and Companies Act, companies must specify their activities within their articles of association and have these reflected in the companies register. Hence, any updates to the activities listed in the articles of association must also be recorded in the company register using the TEÁOR system, which aligns with the European Union’s NACE classification.

In 2025, the TEÁOR system introduced a new version, TEÁOR’25. As of January 2025, authorities have automatically updated activity codes in the Companies Register to comply with this new version. Companies must now review these automatic updates to ensure accuracy, as discrepancies may exist between automatically registered activities and actual operations.

To address eventual inaccuracies, individuals with access to the online gateway of the Tax Authority (typically accountants) must manually submit any necessary corrections before the July 1, 2025, deadline. Otherwise, any activities not updated will be removed from the Companies Register in August 2025.