Publication: Magyar Közlöny
Issue: MK-2010-181 (Year: 2010, Number: 181)
Era: contemporary
Section: 2010. évi CXXIX. törvény
Paragraph Index: 112

2. In Hungary double taxation shall be eliminated as follows: (a) Where a resident of Hungary derives income which, in accordance with the provisions of this Agreement may be taxed in the Hong Kong Special Administrative Region, Hungary shall, subject to the provisions of subparagraphs (b) and (c), exempt such income from tax. (b) Where a resident of Hungary derives items of income which, in accordance with the provisions of Articles 10, 11 and 12, may be taxed in Hong Kong Special Administrative Region, Hungary shall allow as a deduction from the tax on the income of that resident an amount equal to the tax paid in Hong Kong Special Administrative Region. Such deduction shall not, however, exceed that part of the tax, as computed before the deduction is given which is attributable to such items of income derived from Hong Kong Special Administrative Region. (c) Where in accordance with any provision of the Agreement income derived by a resident of Hungary is exempt from tax in Hungary, Hungary may nevertheless, in calculating the amount of tax on the remaining income of such resident, take into account the exempted income. (d) The provisions of paragraphs (a) shall not apply to income derived by a resident of Hungary where Hong Kong Special Administrative Region applies the provisions of this Agreement to exempt such income from tax or applies the provisions of paragraph 2 of Articles 10, 11 and 12 to such income. Article 22 Non-Discrimination

Source: https://magyarkozlony.hu/hivatalos-lapok/4774126550d98855ec8bc2b0930e2d509c87cd18/dokumentumok/c4b3f5ffbe35f9a00c8df653ca85fec4299fad4e/letoltes