(March 11, 2015) 

The Hungarian Ministry of Finance has issued a press release announcing that on March 10, 2015 a bilateral Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital was signed by Luxembourg and Hungary (DTA).

In the press release the Ministry states that the DTA will replace the existing DTA stemming from 1990. The Ministry furthermore states that it expects the new DTA to enter into force in 2016. In the press release it is furthermore stated that the new DTA provides opportunity, a.o. for a wide-ranging exchange of information in tax matters including bank data.

Unfortunately we have not yet been able to locate the text of the DTA that was signed on March 10, 2015.

Click here to be forwarded to the (English) text of the press release as issued by the Hungarian Ministry of Finance in this respect.

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