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FINMIN: EU RECOVERY PACKAGE SHOULD RESPECT TAX SOVEREIGNTY

 

The European Union’s recovery package to offset the economic impact of the coronavirus pandemic will have to be set up in a way that respects member states’ right to determine tax regulations, Hungarian Finance Minister Mihály Varga said in Warsaw where he attended a meeting of Visegrad Group finance ministers. The ministers also signed an agreement on regional cooperation regarding digital economy and the fight against tax evasion and money laundering. V4 cooperation has become an important factor in European politics, Varga said, all the more so since the region has become the “economic engine of Europe”. Cooperation on tax procedures is a tool to strengthen the fight against tax fraud, Varga said. The EU’s tax regulations should also be strengthened, enabling digital companies to be taxed, he added.