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Hungary’s Orban Calls Global Minimum Corporate Tax Plan ‘Absurd’

June 9, 2021, 11:54 AM

Hungarian Prime Minister Viktor Orban said a plan to have a global minimum corporate tax rate was “absurd” as it would have the effect of stripping the European Union member state of investments.

Group of Seven finance ministers agreed last weekend to try to force the world’s biggest companies to pay a minimum corporate levy of 15%, well above the 9% rate introduced by Orban in Hungary. The EU needs unanimity among its member states on most tax matters, so dissent within the bloc may complicate an international agreement.

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