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.