In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on March 16, 2015
The Phase 2 review rates Hungary as overall largely compliant with the international standard. Hungary has been actively involved in all forms of administrative cooperation for tax purposes for many years and it is considered by its treaty partners as an important and reliable exchange of information partner. Hungary has an extensive exchange of information network allowing it to exchange information with 104 jurisdictions. Hungary recently introduced several legal changes improving its legislative framework in the field of transparency and exchange of information. Nevertheless, there remain certain areas in Hungary’s legal framework and its implementation where improvement is recommended in order to ensure that accurate information is provided to its treaty partners in a timely manner and confidentiality of information received from the requesting jurisdiction is fully preserved in line with the international standard. Hungary should report steps taken to address the recommendations made in the Phase 2 report within one year. For further information on the exchange of information practice of Hungary and to read the full report click here.