Minister Szijjártó noted that the global minimum tax was a hot topic in US politics, too, as an aim of the Democrat government staunchly rejected by Republicans.
John Fund writes that Hungary has been a thorn in Biden’s side for years.
Mihály Varga said introducing the global minimum corporate tax is “unjustified” in a wartime situation amid runaway energy prices.
The reason for the step is clear: Hungary is opposed to the introduction of the global minimum corporate tax rate and the resulting tax increases.
Gergely Gulyás, the prime minister’s chief of staff, said an agreement on Hungary’s Recovery and Resilience Facility (RRF) funding now depends only on the European Commission.
Any attempt by the European Commission to link the vote on the proposed global minimum corporate tax rate with the disbursement of EU funds would be wrong and unlawful, said Erik Bánki, the Fidesz chairman of the Parliament's economic committee.
Reporting on his discussion with U.S. Secretary of State Antony Blinken, the foreign minister emphasized that the lower the taxes are on work and businesses, the more it helps competitiveness.
The global minimum tax would bring a competitive disadvantage to Europe given that countries elsewhere in the world have not yet approved the tax.
Zoltán Kovács briefed the French press on the Hungarian government and parliament’s rejection of the planned EU directive to levy a global minimum tax against multinational companies.
The introduction of the tax that the European Union favors would undermine the government’s tax-cutting policy.
Adopted with 118 votes in favor, 32 against and 6 abstentions, the resolution said parliament opposed the directive in view of the inflation and economic crisis caused by the war in Ukraine.
The global minimum corporate tax would put jobs at risk around the world while producing companies would raise prices as their tax burden increases.
The Hungarian government will resist the growing international pressure and reject the related directive.