Global Mobility Tax
Hungary | Hungary Tax Agency clarifies partial suspension of DTA with Belarus
Summary
The Hungarian National Tax and Customs Administration June 3 clarified the bilateral suspension by Belarus of the 2004 Hungary-Belarus DTA. The clarification states that:
1) the bilateral suspension by Belarus includes DTA provisions on the treatment of dividends, interest, and capital gains, from June 1, 2024, through December 31, 2026;
2) the provisions on wage income, pensions, taxation of business profits, and procedural provisions aren’t affected by the suspension;
3) Belarus will apply its own domestic tax rate to payments instead of the reduced withholding rates set by the DTA;
4) despite the suspension, Hungary should continue to apply the provisions of the Convention and uphold the benefits it provides for income between Hungary and Belarus.
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Roland Szabo
Director
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Further information on Vialto Partners can be found here: www.vialtopartners.com
Vialto Partners (“Vialto”) refers to wholly owned subsidiaries of CD&R Galaxy UK OpCo Limited as well as the other members of the Vialto Partners global network. The information contained in this document is for general guidance on matters of interest only. Vialto is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. In no event will Vialto, its related entities, or the agents or employees thereof be liable to you or anyone else for any decision made or action taken in reliance on the information in this document or for any consequential, special or similar damages, even if advised of the possibility of such damages.
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