Hungarian CbC regulation approved - Mazars Tax Newsletter 2017/8

On May 4, 2017, the Parliament voted the law amendment requiring the filing of Country-by-Country Report (“CbCR”).

This brings a substantial change in the Hungarian transfer pricing documentation obligations, as well as it facilitates the Tax Authority a new tax audit tool in the course of assessing transfer pricing related risks. Although only a limited scope of taxpayers will be obliged to CbCR in this calendar year, a number of entities will already be subject to new related administrational obligations in 2017.