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Parliament adopts new law on transparency of foreign funded organizations

Tuesday, June 13, 2017

According to the new legislation, NGOs that receive funding from foreign sources in the current year that reaches twice the amount specified in the Money Laundering Act of HUF 7.2 million must report to the court within 15 days and register as foreign funded organizations.

In addition, all foreign funded organizations are required to inform readers of their status on their websites, in their press releases and other publications they circulate in public in accordance with the media law. All relevant data regarding their sponsors will be public.

Organizations that refuse to cooperate and comply with the new legislation will be fined.

A group can be removed from the "foreign funded organizations" list if the funding in two successive tax years do not reach the level of aid specified in the law.

(MTI - hungarianambiance.com)

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