Switzerland and Hungary sign protocol of amendment to double taxation agreement
On 12 July 2024 in Budapest, Switzerland and Hungary signed a protocol of amendment to the agreement for the avoidance of double taxation with respect to taxes on income and capital (DTA). It implements the minimum standards for double taxation agreements.
Specifically, the protocol of amendment contains an anti-abuse clause. This is intended to prevent a person who is resident in neither Switzerland nor Hungary from claiming the benefits provided for in the DTA.
The cantons and the business circles concerned have welcomed the conclusion of the protocol of amendment. It still has to be approved by parliament in both countries before it can come into force.
Contact
Bilateral Tax Issues and Double Taxation Treaties Section, State Secretariat for International Finance SIF
Tel. +41 58 462 71 29, dba@sif.admin.ch