Pál Jalsovszky
Hungarian Member of the network
Jalsovszky Law Firm

Network coordinator :
Hello Pál,
You represent Hungary in our Law & Numbers network of tax lawyers.
We would like to get to know you a little better. If you agree, we will ask you some questions.

Network coordinator :
What was your background that led you to the profession of tax lawyer?

Pál Jalsovszky :
I studied both economics and law. Choosing tax law was an obvious combination of the two studies. But it took a while before I could really consider myself as a tax lawyer. At the law firms I worked for I could pick up some elements of tax law but what really aggregated my sporadic knowledge were my studies at the Leiden International Tax LLM Programme.

Network coordinator :
What are your areas of expertise? How are your teams constituted? Are you a tax law firm or a multidisciplinary firm?

Pál Jalsovszky :
We started as a boutique tax firm but by now we grew to become a full service business law firm. Tax is, however, still our strongest pillar, in tax we are in Tier 1 at all of the international publications. We have separate teams for tax advisory and tax litigation.

Network coordinator :
What aspects of the profession do you like most and least?

Pál Jalsovszky :
We are just like actors. Though we are paid for our work but the real achievement is the long applause from the audience at the end of the performance – translating it to our world: when the client is really happy. On the dark side, inevitably, our work is burdened with evergrowing administrative tasks.

Network coordinator :
Do you have any additional activities outside the profession of tax lawyer (teaching, membership in organisations,…)?

Pál Jalsovszky :
What I am most proud of is my position at the supervisory board of the Budapest Festival Orchestra, belonging to the 10 best orchestras of the world. Doing so I can combine my passion for the classical music with my profession.

Network coordinator :
How do you organise your work during Covid period ?

Pál Jalsovszky :
We organised our working environment remotely, which is, technically, not a very big challenge for a law firm. On the other hand it had an effect on our social life and the cohesion of our firm. I hope though that we can already put this part of our life in the past tense.

Network coordinator :
What was the most interesting case in your career (in general terms)?

Pál Jalsovszky :
Although I am not a litigator, the most interesting cases usually derive from contentious matters. It is really an achievement to win a case in front of the European Court of Justice which we could achieve at a couple of occasions.

Network coordinator :
What are your working languages? How did you learn these languages?

Pál Jalsovszky :
Other than Hungarian we work in English. We have also German, French and Italian language capacities. It is evident in Hungary that you have no chance in international business environment without solid language skills. I am still studying French on a daily basis although I can find that my brain works a little slower at the age of 51.

Network coordinator :
With which countries do you interact most within the network and outside?

Pál Jalsovszky :
The CEE region is of utmost importance for us. We have several common projects with Czech, Polish and Romanian colleagues. Other than this the Western part of Europe and the US are our main counterparties.

Network coordinator :
What do you do with your free time outside of international tax? How do you manage your work-life balance?

Pál Jalsovszky :
In addition to family commitments (I have a 3-year old guy) I try to do as much exercise as possible to keep me fit. I also save time for another hobby of mine, the bridge (the card play). Work-life balance is never an easy task in our profession, but I am very organized, which helps a lot.

Network coordinator :
How did you hear about Law & Numbers? What do you think of our network?

Pál Jalsovszky :
The first connection was made by the Romanian partner firm of the network. I found even at the first occasion, that other than speaking the same (tax) language, I can personally get on very well with the members. This personal touch of the network remained the over the time, and this is what I enjoy thoroughly.

Network coordinator :
To conclude, could you tell us about a tax incentive for individuals and companies in your country?

Pál Jalsovszky :
We have the lowest corporate tax rate (9%) in the EU without withholding taxes and specific exemptions for holding and IP companies. We also have a very good double tax network. Do you want anything more than that? Although with the proposed global minimum tax the international tax environment will dramatically change, I suppose.