Publication: Magyar Közlöny
Issue: MK-2010-26 (Year: 2010, Number: 26)
Era: contemporary
Section: 2010. évi X. törvény
Paragraph Index: 209

3. Notwithstanding the provisions of paragraph 2, interest arising in a Contracting State and beneficially owned by a resident of the other Contracting State (a) shall be exempted from tax in the State in which interest arises if it is paid (i) to the Government of the other Contracting State or a local authority thereof, to the Central Bank of that other State or any financial institution owned or controlled by the Government of the other State; or (ii) in connection with a loan or a credit guaranteed or insured by the Government of the other Contracting State, the Central Bank of that other State or any financial institution owned or controlled by that Government; (b) shall be taxable in the Contracting State in which it arises at a rate not exceeding 5 per cent of the gross amount of the interest if the interest is paid in connection with a loan or a credit of whatever kind granted by a bank. The competent authorities of the Contracting States shall by mutual agreement settle the mode of application of the limitations mentioned in paragraphs 2 and 3.

Source: https://magyarkozlony.hu/hivatalos-lapok/923d0ebe05cdc2cdf29cd5187c1e19c844eabc37/dokumentumok/ec49a0936e11d913dcd71cc6550831100aad31c4/letoltes