On 7 May 2018, Hungary's National Tax and Customs Administration issued two notices in relation to the country's new Master file and Local file requirements. The new requirements were approved in October 2017 through Decree No. 32/2017 (X. 18.).
The first notice provides a general summary of Hungary's three-tier transfer pricing documentation requirement, including the Country-by-Country (CbC) report, Master file, and Local file (CbC reporting was introduced separately). The content of the…