Hungary Guides on Global Minimum Tax Reporting, Info Exchange

The Hungarian tax and customs authority published guidance Thursday on how global minimum tax reporting and related international information exchange under EU rules will operate for in-scope entities.

The four-page document stresses that a domestic group member or a designated representative must file a so-called GloBE Information Return locally unless an exemption applies, allowing a group entity in another jurisdiction to submit the return as part of a centralized filing.

The GIR is a standardized return that gives tax authorities an overview of in-scope corporate groups and their effective tax rates.

• The global minimum tax seeks to ...