The United States unilaterally terminated crucial treaty with Hungary
Many Hungarians will find themselves in serious trouble due to a historic decision of the United States.
The US decision will affect individuals and companies since America cancelled the double taxation treaty unilaterally, Világazdaság wrote. The Hungarian economic newspaper said that investments would be delayed because of Washington’s decision in the longer term. Furthermore, it creates uncertainty, according to Károly Radnai, chairman of the taxation committee of the American Chambers of Commerce in Central and Eastern Europe (Amcham).
The treaty will be valid until 31 December 2023. Mr Radnai said that the Hungarian veto against the US global minimum tax was among the reasons for Washington’s decision. Furthermore, the old treaty became outdated. Amcham does not have any information about ongoing official talks concerning the issue. Hungary’s finance ministry did not provide an answer for Világgazdaság concerning the termination of the treaty. Amcham believes that a new treaty is in the interest of both sides.
However, hammering out a new agreement and accepting it would take at least years based on international experience. Therefore, we should prepare for years without a treaty excluding double taxation.
Qatar’s newly appointed PM holds first meeting with Hungarian foreign minister in Doha
Mohammed bin Abdulrahman Al Thani, Qatar’s newly appointed prime minister, held his first meeting after taking his oath of office with Foreign Minister Péter Szijjártó in Doha on Tuesday. Szijjártó said on Facebook that he had set out to the conference centre in Doha “to meet my good friend Foreign Minister Mohammed Al Thani, but by the time I arrived, I was met by Prime Minister Mohammed Al Thani, as his first guest, around five minutes after he took his oath.”
From now on, Qatari-Hungarian cooperation will have a supporter at the highest level, Szijjártó said. “We now have even better prospects for obtaining LNG gas from Qatar,” he said, adding that this would contribute to Hungary’s energy security in the foreseeable future. The minister also congratulated Qatar on its success in hosting the 2022 World Cup.
Read alsoHungary could receive Qatari natural gas in 3 years
Source: MTI, Világgazdaság