European Commission Asks Hungary to End Excise Restrictions
Hungary has been asked by the European Commission to change the excise rates currently charged on liquor and tobacco products. The structure of alcohol duties within the EU has been harmonized by an EU Directive and member states must therefore
See MoreNew treaty between Hungary and US submitted to US Senate for ratification
The US Senate Foreign Relations Committee gave its approval to the new Hungary-United States double tax agreement (DTA) on 1 April 2014. This revised agreement is replace the existing Hungary-United States treaty when it enters into force. The
See MoreTreaty between Bahrain and Hungary approved by Bahrain’s cabinet
Bahrain has approved the Income Tax Treaty signed 23 March 2014 with Hungary. The treaty is not yet in force and no further details of the treaty are currently
See MoreSaudi Arabia and Hungary sign a DTA
Saudi Arabia and Hungary signed a double taxation agreement (DTA) on 24 March 2014. No further details of the agreement are currently
See MoreDTA between Hungary and Algeria under negotiation
Hungary has issued a decree authorizing the relevant Ministries to commence negotiations for a double tax treaty with Algeria. No further details are available in respect of a date for commencement of
See MoreUS: DTA Protocols between the United States and various countries
The US Senate Committee on Foreign Relations held talks on February 26, 2014, on the double taxation agreement (DTA) Protocols between the United States and Switzerland and Luxembourg, and DTAs with Hungary and Chile, as part of the nation's
See MoreDTA between Hungary and Kosovo enters into force
On March 12, 2014, the double taxation agreement (DTA) signed between Hungary and Kosovo entered into
See MoreHungary and Bahrain sign a DTA
On 24 February 2014, Hungary and Bahrain signed a Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income. A number of agreements pertaining to the economic and technical co-operation
See MoreIGA agreement sign between Hungary and US to implement FATCA
On February 4, 2014, Hungary and the US signed an agreement to implement the U.S. Foreign Account Tax Compliance Act
See MoreHungary and Jersey sign a TIEA
Hungary and Jersey signed a Tax Information Exchange Agreement (TIEA) on 28 January, 2014. The TIEA will enter into force after ratification by both parties, and the possible date for entry into force is not
See MoreHungary dismisses OECD Tax Advice
The Hungarian government has rejected OECD proposals for major tax reforms, covering a new property tax as well as energy, environmental, inheritance and wealth taxes. The Minister of Economic Strategy has said that tax reform is complete and no
See MoreHungary: VAT rules change
The European Court of Justice (ECJ) has ruled against current Hungarian rules on on the loss of the VAT exemption for exports. Under the present rules, exporters of goods from Hungary must ensure that goods leave Hungary within 90 days to qualify
See MoreHungary-VAT Act changes of 2014
Most of the changes to the VAT rules of Hungary are designed to bring Hungarian VAT further in line with the EU VAT Directive. According to the changes to the VAT rule the reverse charge mechanism will be extended to include property construction.
See MoreSwitzerland: Proposals on Multiple Tax Agreements has been Adopted
A number of double tax treaties proposal on tax information exchange has been adopted by the Swiss Federal Council. The Double tax agreements are with Australia, Hungary, and China, currently valid agreements, and containing administrative
See MoreHungary- Extension to Family Tax Break
The tax incentive regime for employers of parents with small children has been extended in Hungary. The Employment Minister has announced plans regarding this. According to the new plan an employer of parent having at least three small children will
See MoreHungary: Summary of changes to the tax law provisions
Hungary’s changes to the tax law are likely to become effective from 2014. The changes would comprise of the following corporate tax provisions: Favorable participation exemption rules in case of 10% acquisitions of share have been
See MoreHungary Signs OECD Multilateral Tax Assistance Treaty
Hungary has become the 61st jurisdiction to sign the Organization for Economic Cooperation and Development’s multilateral treaty on multilateral tax assistance. This can be considered as a step of Hungary to its fight against cross-border tax
See MoreHungary- Amendments to Corporate Law
Hungary is going to modify its civil code by making significant changes to the corporate law which is likely to become effective from March 2014. According to the amendments, new companies may be permitted to establish their own company guidelines
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