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ARTICLE 32

Termination

This Convention shall remain in force until terminated by a Contracting State. Either Contracting State may terminate the Convention through diplomatic channels, by giving notice of termination at least six months before the end of any calendar year after five years from the date of entry into force of the Convention.

In such event, this Convention shall cease to have effect in both Contracting States:

  • (a) with respect to taxes withheld at source, on income derived on or after 1 January of the calendar year next following that in which the notice is given;
  • (b) with respect to other taxes on income and taxes on capital, to taxes chargeable for any tax year beginning on or after 1 January of the calendar year next following that in which the notice is given.

IN WITNESS WHEREOF, the undersigned, duly authorised thereto, have signed this Convention.

DONE in duplicate at Budapest this 22 day of November 2016, in the Hungarian, Arabic and English languages, each text being equally authentic. In case of divergence of interpretation the English text shall prevail.

ON BEHALF OF THE GOVERNMENT OF HUNGARY:

ON BEHALF OF THE GOVERNMENT OF THE REPUBLIC OF IRAQ: