THE CONVENTION BETWEEN THE RUSSIAN FEDERATION AND THE HUNGARIAN REPUBLIC

of April 1, 1994

About avoidance of double taxation concerning taxes on the income and property

Russian Federation and Hungarian Republic,

wishing to sign the Convention on avoidance of double taxation concerning taxes on the income and property,

agreed as follows:

Article 1 of Person to which the Convention is applied

This Convention is applied to persons who are persons with the permanent residence in one or in both Contracting States.

Article 2 Taxes to which the Convention extends

1. This Convention is applied to the taxes on the income and property levied in the Contracting State according to its legislation irrespective of method of their collection.

2. All taxes levied from the total amount of the income, total amount of property or on separate elements of the income or property, including taxes on the income from alienation of personal or real estate, and also the property increment value duties are considered as taxes on the income and property.

3. Taxes to which this Convention, the following is applied:

a) in the Russian Federation: the taxes levied according to the following Laws of the Russian Federation:

(v) "About the property tax of the companies";

(vi) "About the property taxes of physical persons"

(further the referred to as "Russian tax");

b) in the Hungarian Republic:

(i) the income tax from physical persons;

(ii) tax on corporations;

(iii) tax on land property;

(iv) tax on structures

(further the referred to as "Hungarian tax").

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