The Double Taxation Agreement between Hungary and Malta was signed in 1991 and come into force 1994. The two states have a history of strong bilateral relations. Both are members of the European Union, having attained membership in 2004. Thus, both states have transposed the Parent – Subsidiary and Interest & Royalties Directives to further enhance the opportunity for trade and investment between them.
Hungary is a country with medium level of development and a solid industrial foundation. Its service industry and tourism have developed rapidly in recent years. Located in the heart of Europe, a strategic position, Hungary presently holds the EU Presidency and is becoming a commercial networking channel into the European Union.
During Hungary’s EU Presidency, emphasis was made on the consolidation of the European economic recovery as a common aim. Also part of the package was the creation of the permanent crisis mechanism which Malta has been committed to for a long time. It was affirmed that the mechanism should be a robust one and the granting of financial assistance should be made subject to strict conditions. The Presidency held that commitment towards structural reforms, sustainable development and social cohesion are a must if the EU wants to keep ahead of challenges emanating from a rapidly changing world.
Malta is currently undertaking a major investment to connect itself to the European energy grid, a project undertaken in the energy summit held by Hungary, the first of its kind to be held. As German Chancellor Angela Merkel stated during her visit to Malta, this energy grid is essential “so places like Malta are not cut off”.
At the VIII Euro-Mediterranean Ministerial Meeting on Industrial Cooperation held in Malta in May 2011, the Hungarian Minister of State for the Economy, held that the relationship between Hungary and Malta is very good and he thanked the Maltese Government for its hospitality during the Euro-Med conference. He said that he would like to increase the mediator effect in terms of the institution building in the Mediterranean for internal markets and looked forward to promoting the same objectives as Malta, namely economic growth and financial stabilisation, contending that Malta and Hungary have the same approach to EU policies.
Hungary looks forward to promoting Malta from a touristic point of view and increasing its presence in Malta, including, therefore, further investment from both sides. He held “As Hungarians, we are interested in attracting foreign investment but are also willing to invest overseas ourselves, and I believe that Malta could be a possible domicile in the future.”
Hungary is represented in Malta through its embassy in Rome (Italy) and through an honorary consulate in Valletta. Malta is represented in Hungary through its embassy in Vienna (Austria) and through an honorary consulate in Budapest.
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Full List of Malta Double Taxation Agreements]
The Double Taxation Agreement between Hungary and Malta was signed in 1991 and come into force 1994. The two states have a history of strong bilateral relations. Both are members of the European Union, having attained membership in 2004. Thus, both states have transposed the Parent – Subsidiary and Interest & Royalties Directives to further enhance the opportunity for trade and investment between them.
Hungary is a country with medium level of development and a solid industrial foundation. Its service industry and tourism have developed rapidly in recent years. Located in the heart of Europe, a strategic position, Hungary presently holds the EU Presidency and is becoming a commercial networking channel into the European Union.
During Hungary’s EU Presidency, emphasis was made on the consolidation of the European economic recovery as a common aim. Also part of the package was the creation of the permanent crisis mechanism which Malta has been committed to for a long time. It was affirmed that the mechanism should be a robust one and the granting of financial assistance should be made subject to strict conditions. The Presidency held that commitment towards structural reforms, sustainable development and social cohesion are a must if the EU wants to keep ahead of challenges emanating from a rapidly changing world.
Malta is currently undertaking a major investment to connect itself to the European energy grid, a project undertaken in the energy summit held by Hungary, the first of its kind to be held. As German Chancellor Angela Merkel stated during her visit to Malta, this energy grid is essential “so places like Malta are not cut off”.
At the VIII Euro-Mediterranean Ministerial Meeting on Industrial Cooperation held in Malta in May 2011, the Hungarian Minister of State for the Economy, held that the relationship between Hungary and Malta is very good and he thanked the Maltese Government for its hospitality during the Euro-Med conference. He said that he would like to increase the mediator effect in terms of the institution building in the Mediterranean for internal markets and looked forward to promoting the same objectives as Malta, namely economic growth and financial stabilisation, contending that Malta and Hungary have the same approach to EU policies.
Hungary looks forward to promoting Malta from a touristic point of view and increasing its presence in Malta, including, therefore, further investment from both sides. He held “As Hungarians, we are interested in attracting foreign investment but are also willing to invest overseas ourselves, and I believe that Malta could be a possible domicile in the future.”
Hungary is represented in Malta through its embassy in Rome (Italy) and through an honorary consulate in Valletta. Malta is represented in Hungary through its embassy in Vienna (Austria) and through an honorary consulate in Budapest.
[
Full List of Malta Double Taxation Agreements]