Hong Kong Tax Agency Posts Synthesized Text of DTA, Protocol With Hungary

The Hong Kong Inland Revenue Department April 28 posted online a synthesized text of the 2010 DTA with Hungary and the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI), which entered into force Sept. 1, 2022. The MLI applies from: 1) April 1, 2023, for withholding taxes in Hong Kong; 2) April 1, 2024, for all other taxes in Hong Kong; 3) Jan. 1, 2024, for withholding taxes in Hungary; and 4) taxable periods beginning on or after Jan. 1, 2024, for all other taxes in Hungary. The synthesized text is to ...