Hungary proposes 10-year transition period for global minimum tax -minister


Reuters | Budapest | Updated: 06-10-2021 15:44 IST | Created: 06-10-2021 15:26 IST
Hungary proposes 10-year transition period for global minimum tax -minister
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  • Country:
  • Hungary

Hungary will only support a global minimum corporate tax deal that does not hurt Hungarian interests and has proposed a 10-year transition period, Hungarian Foreign Minister Peter Szijjarto said in a statement on Wednesday. Szijjarto said Hungary, which has a 9% corporate tax rate, also made recommendations for certain exceptions and on how labor costs and the value of equipment used by companies could be taken into account when setting the minimum tax.

"If the other countries accept these, then there could be a compromise that would allow the introduction of the global minimum tax, and would not hurt Hungarian interests," the minister said.

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