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DNH 2021 DNH 2021 · 18/06/2022
· News To Go

Global minimum tax to bring about tax increases?

Hungarian government Hungary Hungary's Finance Ministry tax/VAT

As the introduction of the global minimum tax would bring about tax increases, hinder competitiveness and lead to a loss of jobs, the Hungarian government will resist the growing international pressure and reject the related directive, Finance Minister Mihály Varga said after an Ecofin meeting in Luxembourg on Friday.

Varga told Hungarian journalists that the EU was preparing to introduce a tax burden that would slow down and impair the growth of the EU countries’ economies while other countries held the position of wait-and-see and are not planning to introduce such a tax.

“Hungary’s position is that such a measure should not be introduced now when energy prices are soaring, the burdens of families are increasing and companies are facing increasing challenges,” Varga said.

Read alsoUS advocacy group welcomes Hungary rejecting global minimum tax

Source: MTI

Hungarian government Hungary Hungary's Finance Ministry tax/VAT
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1 Comment

  1. Bruce says:
    20/06/2022 at 05:57

    This minimum tax proposal is being done by high tax countries to stop lower tax countries from being more comoetitive. It is a tax for the rich to penalise the poor.

    It should never be implemented.

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