Hungarian Prime Minister Viktor Orbán approved the signing of a protocol to amend the 2013 income and capital tax treaty with Switzerland on 9 May, 2024. This marks the first modification to the agreement and will require formal signing and

Hungary's National Tax and Customs Administration (NAV) has released its audit strategy for the 2024 calendar year, highlighting transfer pricing as its key area of focus among other sectors. The new transfer pricing reporting obligation introduced

On 26 March 2024, Hungary’s National Tax and Customs Administration disclosed that the Hungarian National Bank has reduced the central bank base rate by 75 basis points from 9.00% and set it at 8.25%. The revised base interest rate went into

On 29 December 2023, the U.S. IRS declared in the ‘Announcement 2024-05’ the effective date of the termination of the 1979 tax treaty with Hungary. The Government of the United States provided a diplomatic notification, dated 8 July 2022, to

Recently, Hungary implemented a tax legislation that grants one-time amnesty for any capital gains on the disposal of shares in subsidiaries that had not previously chosen to participate in Hungary's capital gains exemption regime. Hungary’s

On 30 November 2023, Hungary published Law LXXXIII of 2023 on the amendment of individual tax laws and Law LXXXIV of 2023 on additional taxes in Gazette No. 171 of 30 November 2023. The recently enacted laws ensure a global minimum tax level and