UniCredit Bank Hungary Zrt.
Summary:
Following completion of the respective ratification processes, the Double Tax Treaty with Kosovo and the Agreement on Exchange of Information on Tax Matters with Guernsey are now in force
Fri, 18/04/2014
Further to our previous announcements, the following tax related agreements are now in force:
- Double Tax Treaty with Kosovo: signed on 3 October 2013, published on 21 November 2013 and in force from 12 March 2014. According to its provisions, with respect to taxes withheld at source the treaty has effect on income derived on or after 1 January 2015, while with respect to other taxes on income and taxes on capital, for taxes chargeable for any tax year beginning on or after 1 January 2015.
- Agreement on Exchange of Information on Tax Matters with Guernsey: signed on 11 September 2013, published on 21 October 2013 and in force from 7 March 2014.
Impact on investors: Hungary has progressed further with its plan to revise some of its existing DTTs and exchange information agreements and enter into new ones.
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