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Hungary, Luxembourg sign agreement to circumvent double taxation

Interview

Hungary and Luxembourg have signed an agreement on Tuesday to avoid double taxation, the economy ministry announced. The agreement, which replaced a previous one from 1990, was signed by Hungarian economy minister Mihály Varga and Luxembourg finance minister Pierre Gramegna in Brussels. 

The two ministers met in Brussels at an Econfin meeting. The ministry said that the new agreement will also serve as a guarantee against tax avoidance, and makes a full exchange of information, such as bank data, possible.

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