Japan's Ministry of Finance has issued a notice announcing that the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) will be coming into force for the 1980 Japan-Hungary income tax treaty on 1 July 2021. Although the synthesized text of the treaty has not yet been prepared, a summary on the application of the MLI has been published, including that the MLI is generally effective for the treaty from 1 January 2022.
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Tax T…