Hungary Publishes Law for CbC Reporting

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…