The amending protocol to the 2012 income and capital tax treaty between Hungary and Switzerland was signed on 12 July 2024. The protocol is the first to amend the treaty and includes the following changes:
- The preamble is replaced in line with OECD BEPS Standards;
- Article 25 (Mutual agreement procedure) is amended with the addition of new arbitration provisions, which provide that if the competent authorities are unable to reach an agreement to resolve a case within three years from the date…