Corporate Taxation

The US’ Surprising Termination of Hungary Treaty Could Cause Angst

Earlier this summer, the US Treasury Department gave notice that it was terminating its tax treaty with Hungary. The Treasury’s surprise move came on the heels of Hungary’s veto of a 15% global minimal corporate income tax, preventing the European Union from proceeding with efforts to implement Pillar 2 of the OECD/G-20-led two-pillar international tax reform regime.

US Taxand member firm, Alvarez & Marsal, analyses the effect of this termination with regards to US companies with Hungarian holding companies, particularly with respect to US companies with a Hungarian parent company.

Read the full article here.