Publication: Magyar Közlöny
Issue: MK-2010-26 (Year: 2010, Number: 26)
Era: contemporary
Section: 2010. évi X. törvény
Paragraph Index: 241

1. In Hungary double taxation shall be eliminated as follows: (a) Where a resident of Hungary derives income or owns capital which, in accordance with the provisions of this Agreement may be taxed in Armenia, Hungary shall, subject to the provisions of subparagraphs (b) and (c), exempt such income or capital 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 Armenia, Hungary shall allow as a deduction from the tax on the income of that resident an amount equal to the tax paid in Armenia. 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 Armenia. (c) Where in accordance with any provision of the Agreement income derived or capital owned by a resident of Hungary is exempt from tax in Hungary, Hungary may nevertheless, in calculating the amount of tax on the remaining income or capital of such resident, take into account the exempted income or capital. (d) The provisions of subparagraph (a) shall not apply to income derived or capital owned by a resident of Hungary where Armenia applies the provisions of this Agreement to exempt such income or capital from tax or applies the provisions of paragraph 2 of Articles 10, 11 and 12 and subparagraph (b) of paragraph 3 of Article 11 to such income.

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