Orban says global minimum tax plan ‘absurd’, Hungary may look at options By Reuters – Investing.com

  • Date: 09-Jun-2021
  • Source: Investing.com
  • Sector:Economy
  • Country:Middle East
  • Who else needs to know?

Orban says global minimum tax plan ‘absurd’, Hungary may look at options By Reuters – Investing.com

BUDAPEST (Reuters) - Hungarian Prime Minister Viktor Orban said on Wednesday a proposed global minimum corporate tax is "absurd" and his government would need to consider contingency plans if the initiative goes through.

The Organization for Economic Cooperation and Development (OECD) has been coordinating negotiations among 140 countries for years on rules for taxing cross-border digital services and curbing tax base erosion. A global corporate minimum tax is one of the major tools under consideration.

Finance ministers from the Group of Seven (G7) rich nations reached a landmark accord last week backing the creation of a global minimum corporate tax rate of at least 15%, a deal that could then form the basis of a worldwide accord.