On 15 May 2017, Hungary published Law XL of 2017 in the Official Gazette, which amends Act XXXVII of 2013 for the implementation of Country-by-Country (CbC) reporting in line with BEPS Action 13 and the requirements of EU Council Directive (EU) 2016/881. Main points include:
- Standard reporting threshold of EUR 750 million consolidated group revenue in the previous year (or equivalent in HUF based on exchange rate published by Hungarian National Bank);
- Hungarian ultimate (surrogate) parent en…