The tax information exchange agreement between Hungary and Guernsey entered into force on 7 March 2014. The agreement is the first of its kind between the two countries and applies for criminal tax matter from 7 March, and for all other tax matters for tax periods beginning on or after that date. Taxes Covered The agreement applies to the following Hungarian taxes: Personal income tax Corporate income tax Land parcel tax Building tax Value added tax The agreement applies to the following Guernsey taxes: Income tax Dwellings profit tax