“Not even if this would cause conflict with the new US President?” we interjected.
“The idea of a global minimum corporate tax is in the interests of several high-taxing economic powers. For them, international tax competition is a disadvantage and those substantially progressing states with transparent rules and low taxes present a problem.
These great powers want to win global competition for investment by taking away other countries’ right to freedom.”
Said the Deputy Minister. He continued: “We cannot agree to this under any circumstances, not even if we are potentially going against Joe Biden’s expectations. The Hungarian government, as always, seeks positive relations with America’s leadership, however, the interests of another nation cannot precede those of Hungary” noted András Tállai. He concluded: the government cannot tolerate the curtailment of Hungary’s financial sovereignty, so they will fight to preserve maximal economic self-determination.
We also asked the President of the State Audit Office of Hungary about the global minimum tax plans. In his statement, (which you can read here) László Domokos analyzed the possible losses and pointed out the importance of the local business tax.
Gyurcsány and Biden? Our views on the causes and possible consequences of the minimum corporate tax are presented in this article.
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