On July 20, 2020, the Hungarian National Tax and Customs Administration published guidelines on the new reporting obligation for cross-border tax planning agreements (DAC6).
The guidelines provide an overview of the reporting legislation, the entities required to report on the agreements, the reporting deadlines and the penalties for non-reporting. Information on how to report agreements is also provided. In the case of a failure to report or in the case of late, incorrect, false or incomplete reporting, the Hungarian Tax Authority may levy default penalties on the persons liable for reporting up to an amount of HUF500,000.
On 14 July 2020, the Hungarian Government issued a new regulation, deferring the reporting deadlines by six months.
