The Hungarian tax authority has published on its website a form (Form 16CBC) that can be used by taxpayers to comply with the reporting requirements for country-by- country (CbC) from 31 May 2017. Under a general rule, the ultimate parent company is to file the CbC report, but a group member other than the parent company can be assigned to serve as the CbC reporting entity. Under the amendments applied from May 2017, a member of the group who does not need to submit the CbC report must declare that it has no obligation to file CbC report and must also state the company and country where the CbC report is to be submitted along with that country’s tax authority. For this purpose, taxpayers are required to use a notification form 17T201T.
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