In reference to the proposed global minimum corporate tax rate, Szijjártó warned that were it to be introduced in Hungary, “we would completely lose our competitive advantage,” explaining the government had embarked on a tax policy to reduce the burden on both workers and businesses since 2010 and noted this policy would not be deviated from.
Hungary’s lower corporate tax rate has boosted the country’s competitiveness, Szijjártó said, highlighting the fact Hungary’s investment record has been broken every year.
There is also a parliamentary decision stating that the government will not approve the introduction of a global minimum corporate tax.
The proposal for a global minimum tax rate has caused heated debate in a number of countries, including the United States, and Szijjártó revealed he had received a letter from two Republican lawmakers who had expressed their appreciation for Hungary’s opposition to the proposal and for “pursuing a growth-oriented tax policy.” The foreign minister added that he was in ongoing consultations with Republicans over the issue.
Photo credit: Facebook/Szijjártó Péter