Hungary a tax haven?

Now that Hungary has been exempted from applying the global minimum tax, the country will remain a tax haven, the opposition LMP party said on Friday.

“It is rather unpleasant to live in a tax haven, because only a thin layer of society, the ruling class is getting richer, while ordinary people remain poor,” LMP spokeswoman Anna Suveg told a press conference. She welcomed the recent agreement that granted Hungary access to the EU recovery funds but added that the country was still a loser of the deal. The only winners of the artificially generated race to cut taxes are the multinational corporations, Suveg said. LMP would therefore introduce a dual-rate system of corporate taxation, with large companies obliged to pay a 25 percent tax on profits above 500 million forints (EUR 1.23m), she said.

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Source: MTI