180 degree turn: the government backs global minimum corporate tax!
Hungary has succeeded in pushing through its interests at the international talks on the global minimum corporate tax, Finance Minister Mihály Varga said on Friday.
The corporate tax in Hungary will remain 9 percent, Varga said in a Facebook post. The global tax will be collected using “a targeted solution” that takes into consideration genuine economic activity, he said. “That means that corporate assets and payroll costs will be deductible using a special method of calculation, so those companies that are conducting activities with genuine, not fictitious, assets and payroll costs, can avail of a preference,” he explained.
Hungary also successfully negotiated a ten-year transition period, the minister added.
“We have achieved serious results, we can easily call this a Hungarian success — we have been right to stand up for our interests,” Varga said.
PM Viktor Orbán said in his regular interview in the Kossuth Rádió today morning that utility prices are a highly sensitive issue for a country like Hungary, because “they can cause Hungarian families a lot of pain”. “We believe utility prices should be cut and the social situation of families should be protected,” he said, adding that Brussels, on the other hand, believed that if utility prices are raised, economies could be forced to
transition to greener energy sources.
“Brussels is not the solution, but the problem itself,” the prime minister said.
Orbán said Hungary, Poland and the Czech Republic were demanding that Brussels repeal the regulations that had led to the current high prices. The three countries have put forward several proposals to this end, and the issue must be discussed again at the next EU summit in two weeks’ time, he said.
The prime minister also said that
Orbán said Hungary, Poland and the Czech Republic were demanding that Brussels repeal the regulations that had led to the current high prices. The three countries have put forward several proposals to this end, and the issue must be discussed again at the next EU summit in two weeks’ time, he said.
The prime minister also said that
economic activity in Hungary had returned to pre-pandemic levels,
giving the government an opportunity to enact measures that had not been possible until now.
The facts show that the article headline is 180 degrees off the mark.