Connect with us

Hi, what are you looking for?

Top News

Hungary also retaliates against America because of the agreement that was terminated

Hungary also retaliates against America because of the agreement that was terminated

US Treasury on Friday announceto end the 1979 double taxation treaty with Hungary after Budapest decided to veto the introduction of a new global minimum tax of 15 percent in the European Union.

Three ministers responded to the US announcement within a short period.

  • Foreign Minister Peter Szijjarto The reason is obvious: Hungary is resisting the introduction of a global minimum tax and the accompanying tax increase. The introduction of a global minimum tax would mean that the corporate tax burden on Hungarian production companies would practically double. He believes this will jeopardize tens of thousands of Hungarian jobs.
  • Finance Minister Mihaly Varga The United States said on Saturday that the United States wants to pressure Hungary to change its position on the global minimum tax by ending the double taxation agreement.
  • Gergeli Golias, the minister in charge of the prime minister’s office, believes on Sunday this was an exercise in lobbying for Hungary to accept global minimum taxes. Gergeli Golias, who said that the agreement replacing the 1979 agreement, which is now being terminated, was already signed in 2010 by then-Finance Minister Peter Osko with his US counterpart, but the US legislature has not yet adopted it, the minister said: 2010 will address all the problems, but the US government intends to use this issue to apply pressure. The agreement that will now be terminated will remain in effect until January 2024, so Americans want to achieve that we adopt the global minimum tax in the next year and a half, and then they will probably be ready to ratify the 2010 agreement – referring to Gergely Julias, who reiterated: “Suffice this small step by a great power.”
See also  Another place may appear on the 2021 F1 race calendar instead of disqualified Australia

After that, it is no longer surprising that the ruling parties are also preparing for something in the Parliament’s Economic Committee. The date of the committee meeting is on Monday on the agenda Because it is listed in point 3

Proposal for a political statement on the rejection of political pressure contrary to the protection of Hungary’s economic interests.

According to the agenda, the committee decides whether to submit an independent proposal. The invitation also reveals that this agenda item is a new proposal and was presented to the committee on Saturday evening.

Click to comment

Leave a Reply

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

You May Also Like

Top News

In a harrowing incident that has shaken the community of Lewiston, Maine, a series of shootings on Wednesday evening resulted in a tragic loss...

Top News

President Joe Biden’s abrupt departure from a speech on the U.S. economy at the White House on Monday sent a ripple of speculation and...


Chinese scientists have discovered a little-known type of ore containing a rare earth metal highly sought after for its superconducting properties. The ore, called...


The Russian president said at a forum in St. Petersburg that before 2014, he would not have considered a conflict between Russia and Ukraine....

Copyright © 2023 Campus Lately.