US Termination of Treaty with Hungary

By Rasheed Khan
18.07.2022
Read Time: 5 minutes
us hungary, us treaty, us tax treaty, hungary tax, hungary tax rate, income tax in hungary, tax hungary, TAINA technology, taina tech, taina tax, taina software

Implications of US Termination of Treaty with Hungary

Recently the US Treasury announced that on 8th July 2022, the United States notified Hungary of its termination of the Tax Convention. Based upon the noticed issued by the US Treasury the current treaty will be effectively `terminated on 8 January 2023.

TAINA’s Tax Reporting and Compliance Expert, Rasheed Khan, continues to track and monitor these changes and updates and will share information as it becomes available. He has compiled an informative and thought-provoking whitepaper on the institutional impact of the US termination of the Treaty with Hungary.

This will have an institution impact on financial institutions and intermediaries who will need to update their policies and procedures to take into account the changes for form sign date and withholding rate.

Throughout this whitepaper, Rasheed will address the latest regulatory update including:

  • When does the treaty termination become effective?

  • How does treaty termination impact Financial Institutions?

  • What is the Impact on Intermediaries and the withholding?

  •  What if a new treaty is signed before 2024?

At TAINA we continue to monitor the IRW regulatory landscape. To find out more information on the US termination of the treaty with Hungary, fill in the form to download the whitepaper below or, get in touch with us today.

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Whitepaper US Termination of Treaty with Hungary