Hungary continues to be against global minimum tax

The introduction of the OECD’s global minimum tax on corporate profit would result in big tax hikes and endanger “tens of thousands” of jobs in central Europe, where, thanks to disciplined fiscal policy, businesses now pay the lowest corporate taxes in Europe, Péter Szijjártó, the foreign minister, said in an interview broadcast on public radio on Sunday.

Szijjártó told Kossuth Rádió that the global minimum corporate tax would put jobs at risk around the world, while producing companies would raise prices as their tax burden increases, creating further inflationary pressure.

The plan to roll out the global minimum corporate tax in Europe from next year, as the rest of the world sits back and watches, would put European companies at a competitive disadvantage,

he said.

Hungary’s talks with the United States at the ministerial level on the global minimum corporate tax were “fair and square”, he said, but Hungary’s government made it clear that it could not support the introduction of the tax.

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  Source: dailynewshungary.com 

He added that the US Republicans and the Hungarian government agree that the smaller the tax on labour, the bigger the opportunities for economic growth.

Szijjártó said the economic impact of the war in Ukraine is starting to show on a global scale.