Publication: Magyar Közlöny
Issue: MK-2011-128 (Year: 2011, Number: 128)
Era: contemporary
Section: 2011. évi CXLIV. törvény
Paragraph Index: 827

(2) Subject to the provisions of the law of the United Kingdom regarding the allowance as a credit against United Kingdom tax of tax payable in a territory outside the United Kingdom or, as the case may be, regarding the exemption from United Kingdom tax of a dividend arising in a territory outside the United Kingdom (which shall not affect the general principle hereof): (a) Hungarian tax payable under the laws of Hungary and in accordance with this Convention, whether directly or by deduction, on profits, income or chargeable gains from sources within Hungary (excluding in the case of a dividend, tax payable in respect of the profits out of which the dividend is paid) shallbe allowedas a credit against any United Kingdom tax computed by reference to the same profits, income or chargeable gains by reference to which the Hungarian tax is computed; (b) a dividend derived by a company which is a resident of the United Kingdom from a company which is a resident of Hungary shall be exempted from tax in the United Kingdom; (c) in the case of a dividend not exempted from tax under sub-paragraph (b) above (because the conditions for exemption under the law of the United Kingdom are not met) which is paid by a company which is a resident of Hungary to a company which is a resident of the United Kingdom and which controls directly or indirectly at least 10 per cent of the voting power in the company paying the dividend, the credit mentioned in sub-paragraph (a) above shall also take into account the Hungarian tax payable by the company in respect of its profits out of which such dividend is paid.

Source: https://magyarkozlony.hu/hivatalos-lapok/e5485bbe2b4799f35a054d9c427707c39671831b/dokumentumok/b22cbff19437bd824a6a45069abc926a3646e57f/letoltes