The U.S. IRS updated its CbC Reporting Jurisdiction Status Table on 20 December 2023 to add a note with respect to Hungary, stating that "Local filing will not be required in Hungary". As previously reported, the CbC exchange agreement signed in 2018 between Hungary and the U.S. was terminated on 8 January 2023 due to the termination of the 1979 tax treaty between the two countries. To avoid local filing requirements in Hungary for U.S. MNEs, it was provided in a joint statement published a…