There are three ways a country can define its tax borders: citizen-based, residence-based and territorial. A citizen-based tax system taxes all income earned by the citizen, regardless of where that citizen lives or where the income is earned.
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In this article, Dr. Gábor B. Szabó reviews the facts and misunderstandings related to the legal regulation of trusts in Hungary.
The Hungarian parliament recently adopted a new act under the title of “Increasing the legal competitiveness of the business environment”. In this article, Dr Gábor B. Szabó delves into this new legislaton.