Hungary: NACE Activity Code Reclassification Requirements

From 1 January 2025, the Hungarian Tax Authority introduced NACE Rev. 2.1 (TEÁOR’25), replacing the previous NACE Rev. 2 (TEÁOR’08) activity classification system. The revision restructures many activity categories and adds new subcategories, resulting in significant changes that prevent a simple one to one reclassification. The new classification applies to all Hungarian companies that must maintain activity codes as part of their corporate details. Companies were required to confirm or update their activity codes—particularly their main and ancillary activities—by 1 July 2025. Updated NACE codes must be incorporated into the company’s articles of association (deed of foundation) during the next corporate data amendment and filed with the court of registration. Non compliance may result in fines, typically after a formal notice.

Key changes and requirements

NACE Rev. 2.1 introduces new and reorganised subcategories, meaning prior codes often do not align directly with the updated system. The Tax Authority automatically reclassified activities only where a direct match existed. In cases involving multiple subcategories, the authority selected one for the main activity; however, companies must still verify accuracy. Ancillary activities were not automatically recoded and must be manually updated by the company.

To comply, companies must review their activities, confirm whether the automatic recoding was correct, and identify and select appropriate new NACE Rev. 2.1 codes where necessary. The revised codes must then be formally adopted via an amendment to the articles of association (deed of foundation).

How can we help?

Computershare can assist clients updating Articles of Association (Deed of Foundation) and help maintain accurate entity information globally through the GEMS platform.

Contact:

Please contact your dedicated Computershare Relationship Manager or send an email to #GLCGSGECNetworkManagement@computershare.com for more information about how Computershare may assist you in responding to these new requirements.

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