Hungary’s Minister of Foreign Affairs and Trade Peter Szyjardo announced on his Facebook page that the United States has terminated the double taxation treaty with Hungary 43 years ago. hirado.hu.
According to the Budapest politician, the reason is clear: Hungary opposes the introduction of a universal minimum tax and the increase in taxes that it would entail.
According to the Hungarian minister, the European economy will have to operate in the inflationary environment created by the war for a long time. Under these conditions, if the tax burden on manufacturing companies increases further, the impact will be dramatic, he said.
Europe’s competitiveness has already been “destroyed” by dangerously high energy prices, and the introduction of a global minimum tax would be a “conspiracy,” the Hungarian foreign minister said.
- “We Hungarians have worked hard to get the lowest taxes in Europe. Introducing a universal minimum tax would practically double the tax burden on Hungarian companies for manufacturing companies. This would endanger tens of thousands of jobs in Hungary. Given this – no matter how great the pressure is on us – of course, we support the introduction of a universal minimum tax in Europe. No, we will not affect tens of thousands of jobs in Hungary, and we will continue tax consultations with our republican party, friends, “said Peter Szyjardo.
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