Hungarian Prime Minister Authorizes Negotiation of New Tax Treaty with U.S.

Hungarian Prime Minister Viktor Orbán has issued a decision authorizing the negotiation of a new income tax treaty with the United States. The 1979 tax treaty between the countries was terminated by the United States with effect from 1 January 2024. The new treaty must be finalized, signed, and ratified before entering into force.

Note that the two sides signed another tax treaty in 2010, but it was not ratified.