Executive summaryOn 28 January 2021, the Hungarian Ministry of Finance published guidance (the Guidance) on the application of the rules set out in the Act XXXVII of 2013 on the rules of international administrative co-operation related to taxes and other levies (referred to as Act XXXVII of 2013) implementing the European Union (EU) Directive on the mandatory disclosure and exchange of cross-border tax arrangements (referred to as DAC6 or the Directive). The final Hungarian Mandatory Disclosure Rules (MDR) legislation is substantially aligned to the requirements of the Directive. However, most elements of the hallmarks included in the Hungarian MDR legislation...