Szijjártó: Hungary Against Global Minimum Tax

Hungary will reject the introduction of a global minimum tax, Péter Szijjártó, the minister of foreign affairs and trade, said, arguing that such a measure would entail tax increases in the country.

“It has become clear over the past decade that raising taxes is a dead-end-street,” Szijjártó told MTI after a meeting with Mathias Cormann, the incoming secretary-general of the OECD, in Paris. “The most effective incentives for creating jobs and triggering economic growth are tax cuts.”

“Nobody has the right to intervene from abroad in Hungary’s tax policies,” Szijjártó said, insisting that defining tax brackets should remain Hungary’s sovereign right. He said one of the keys to Hungary’s competitiveness was that it had the lowest payroll and corporate tax rates in Europe, adding that countries that had been less disciplined than Hungary had been unable to cut taxes.

At the same time, he supported initiatives aimed at settling the issue of how tech giants should be taxed, arguing that these companies ought to pay taxes where they operate. “We shouldn’t allow tech giants to enjoy an unfair competitive advantage in the absence of international tax regulation!” he said, attributing to the OECD a key role in settling the matter in a satisfactory manner.


Leave a Reply

Your email address will not be published. Required fields are marked *