The Hungarian government has found a compromise to join the global tax reform agreement, Hungarian Finance Minister Mihaly Varga announced in a statement today.
Hungary was the last EU country outside of this negotiated reform under the auspices of the OECD, supposed to fight against optimism strategies that allow large companies to partially evade taxes.
Budapest, which offers a 9 percent corporate tax rate, is one of the states that focuses on tax collection and therefore refuses a minimum tax rate of 15 percent.
However, Varga assures that he has achieved a “major result”, allowing “the guarantee of Hungarian interests”. “Hungary will be able to collect the global tax, using a targeted solution,” he said, without elaborating.
“As a result, we unreservedly agree with the compromise found,” the minister added. The international organization should make announcements at the end of the day on this upcoming international taxation.
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