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Note: This Treaty may be impacted by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). MLI impact on Tax Treaties is available with the Orbitax International Tax Research & Compliance Expert.

ARTICLE 29

Termination

This Convention shall remain in force until terminated by a Contracting State. Either Contracting State may terminate the Convention not earlier than five years from its entry into force, through diplomatic channels, by giving notice of termination at least six months before the end of the calendar year. In such event, the Convention shall cease to have effect:

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

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

DONE in duplicate at Rome, this fifteenth day of September 2009, in the Hungarian, Italian and English languages, all texts being equally authentic. In case of divergence of interpretation, the English text shall prevail.

FOR THE REPUBLIC OF HUNGARY:

FOR THE REPUBLIC OF SAN MARINO: