On 4 November 2024, the Hungarian Parliament (National Assembly) approved a new agreement with the United States on the exchange of Country-by-Country (CbC) reports. An earlier agreement, signed in 2018, was terminated in accordance with its terms on 8 January 2023, which is 6 months after the U.S. notified Hungary of the termination of the 1979 tax treaty between the two countries. Since the termination of the earlier agreement, the two sides have implemented the spontaneous exchange of CbC reports. The new agreement was reportedly signed by Hungary on 15 July 2024 and by the U.S. on 1 August 2024.