Hungary’s parliament has ratified the protocol amending Hungary’s income tax treaty with Switzerland on 4 November 2024.
The President of Hungary has signed Law No. XLVII of 2024, officially ratifying the amending protocol. This law was published in the Official Gazette (Magyar Közlöny), No. 113, dated 13 November 2024.
The protocol is expected to expand cooperation between the two nations, facilitate stronger business relations, and combat tax evasion.
It will take effect 30 days after ratification and generally apply from 1 January 2025.
On 12 July 2024, Switzerland and Hungary signed a protocol amending the 2012 Hungary-Switzerland income and capital tax treaty to avoid double taxation on income and capital (DTA).
