Hungary Issues Detailed Guide to Global Minimum Tax Reporting

The Hungarian tax and customs authority published Wednesday a comprehensive 56-page guide to how companies should report their tax positions under the EU’s global minimum tax framework.

The document provides line-by-line explanations for completing the Hungarian implementation of the GloBE Information Return, or GIR, a standardized form that gives tax authorities an overview of corporate groups subject to global minimum tax rules and their effective tax burdens.

The minimum tax seeks to levy large corporate groups at a minimum 15% rate wherever they operate and is part of the international tax agreement negotiated at the Organization for Economic Cooperation and ...