Tax Newsletter 2016/14 - HU-US social agreement

The US-Hungarian social security agreement (“Agreement”) eagerly awaited by many entered into force today after its last year’s approval.

The main purpose of the Agreement is to ease the circumstances of any work performance in the other contracting states by way of providing a modern legal framework and to simplify the coordination the situation of numerous assignees and entrepreneurs.

The provisions of the Agreement were introduced earlier in our newsletter Nr. 2015/07 . Therefore, we would only summarize and emphasize its key points affecting the everyday practice.