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Despite Vetoing it Hungary Takes Step Toward Global Minimum Tax

• 12 May 2023 10:35 AM
• Hungary Around the Clock

Prime Minister Viktor Orbán has authorised the signing of an agreement required for the adoption of a global minimum tax regime previously vetoed by the Hungarian government, Portfolio reports, citing a new decree.

Specifically, Orbán authorised the signing of an agreement with the US on the exchange of country-by-country reports, which include tax data of multinational companies.

The ministries of finance, justice and foreign affairs and trade will prepare the agreement.

The global minimum tax was first vetoed by Hungary in the European Council last summer, and then approved in December after the US imposed sanctions and terminated the existing double taxation agreement with Hungary, Portfolio adds.

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