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Hungary Remains Publicly Opposed to Global Minimum Tax Ahead of ECOFIN Vote — Orbitax Tax News & Alerts

As previously reported, the agenda for the 6 December 2022 meeting of the Economic and Financial Affairs Council (ECOFIN) includes a further vote to adopt the proposed directive on ensuring a global minimum level of taxation for multinational groups in the EU (the Pillar 2 global minimum tax). To date, Hungary remains the last holdout opposed to the global minimum tax, despite supporting the directive earlier. Heading into the 6 December meeting, Hungarian Prime Minister Viktor Orbán has said the government is still opposed to the global minimum tax. In his regular Friday morning radio address on 2 December 2022, Prime Minister Orbán was asked about the global minimum tax, replying that it is a job-killing tax increase, and the government will not agree to introduce it. Whether this opposition is maintained is to be seen, with several EU countries planning to move ahead with the global minimum tax in 2023 if the directive is not adopted, including France, Germany, Italy, the Netherlands, and Spain.

Click the following link for the latest version of the proposed directive dated 25 November 2022.