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FINMIN: GLOBAL MINIMUM TAX WOULD BRING ABOUT TAX INCREASES

 

As the introduction of the global minimum tax would bring about tax increases, hinder competitiveness and lead to a loss of jobs, the Hungarian government will resist the growing international pressure and reject the related directive, Finance Minister Mihály Varga said after an Ecofin meeting in Luxembourg on Friday. Varga told Hungarian journalists that the EU was preparing to introduce a tax burden that would slow down and impair the growth of the EU countries’ economies while other countries held the position of wait-and-see and are not planning to introduce such a tax. “Hungary’s position is that such a measure should not be introduced now when energy prices are soaring, the burdens of families are increasing and companies are facing increasing challenges,” Varga said.