Hungarian, Swiss finance ministers concerned by min corp tax rate within EU
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Finance Minister Mihály Varga met his Swiss counterpart Ueli Maurer, the Finance Ministry has said.
Hungary and Switzerland are in agreement that the introduction of a global minimum corporate tax rate would hold back innovation and economic growth, that the planned minimum rate of 15 percent is too high, and that real economic activities should not be burdened, Varga said after the meeting held on Friday.
Hungary and Switzerland are both committed to tax sovereignty and fair tax competition and share views on a number of points concerning the OECD’s proposed minimum corporate tax rate, he added.
Hungary is prepared to participate in international negotiations on the global minimum corporate tax rate, with the aim of getting as many member states to support the preservation of tax competition, he said.
Now not the time for budget cuts, says Hungarian finance minister
Strangely he is not concerned that VAT at 27% is too high.