Hungarian Finance Minister Mihály Varga presented the government’s draft budget for next year to parliament on Monday. ‘The 2025 budget can be a budget for new opportunities, a budget for new economic policy, and a budget for peace,’ he emphasized…
‘The U.S. has dramatically evolved since its founding, when tariffs were the only source of revenue for the federal government. Despite the higher costs falling on American consumers and the harms to U.S. employment and production, especially in the manufacturing…
The minister noted a ruling by Hungary’s Supreme Court, declaring that Budapest could not be even partially exempt from its obligation to pay its taxes. Varga said if the Budapest city council failed to meet its obligations, the government ‘will…
Speaking at the National Tax Consultation event organized by the National Tax and Customs Administration (NAV), Finance Minister Mihály Varga stated that with the change in the tax authority’s mindset, NAV has succeeded in becoming a customer-friendly office. He highlighted…
Last year, the US terminated the 1979 double taxation avoidance agreement with Hungary. According to Szijjártó, the USG took this step in response to the Hungarian government not giving its consent to the introduction of the global minimum tax….
A homogeneous tax would create a certain order in the taxation of multinational corporations, but for the Visegrád countries it could be a drag on economic development. If it is accepted, the countries in question will have to find other…
It looks like the Biden government may end up not being able to push its anti-growth tax cartel idea through anyway, beside finding that it is very difficult to coerce the Hungarian Prime Minister into doing anything that he does…
Diplomatic disputes over the OECD’s global minimum tax have flared up recently after Hungary vetoed its implementation at the EU level. To be clear, Hungary is also in favour of equal burden-sharing by multinational companies, but it has serious concerns…
Ryanair’s notoriously outspoken CEO has been hurling insults at top government officials over the excess profits tax, even though Budapest had every right (and reason) to introduce it….
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