The President of Hungary has enacted Law No. XLV of 2024, ratifying the amending protocol to the Hungary-Serbia Income and Capital Tax Treaty (2001).
The law was published in Official Gazette Magyar Közlöny No. 113 on 13 November 2024.
Earlier, Hungarian and Serbian signed an amending protocol to their income and capital tax treaty on 8 October 2024 in Budapest, as reported in a release from the Serbian Ministry of Finance on the same day.
The protocol was signed by Norbert Izer, state secretary for tax affairs at the Hungarian MOF, and Jožef Kerekeš, state secretary of the Serbian MOF.
The protocol is expected to expand cooperation between the two nations, facilitate stronger business relations, and combat tax evasion. It is an amendment to the 2001 income and capital tax treaty between the two nations.
It will take effect once the ratification instruments are exchanged.
