Mazars Hungary Tax Newsletter No. 07/2010

On 22 July 2010, the OECD Council approved the new, revised versions of the Model Tax Convention together with its Commentaries and of the Transfer Pricing Guidelines, as well as a new document related to the above, the Report on the Attribution of Profits to Permanent Establishments. The shared characteristic feature of these three documents is that they provide consensus-based principles, frameworks and a common basis for interpretation in the area of international taxation.