Posted on 07/21/2022 10:41:35 AM PDT by elpadre
Hungary’s foreign minister said Secretary of State Antony Blinken used the U.S. tax treaty with Hungary as leverage in negotiations about the adoption of a corporate minimum tax.
The Treasury Department announced earlier this month that it is terminating its tax treaty with Hungary, a move decried by Republicans as retaliation for Hungary opposing the European Union plan, favored by the Biden administration, to adopt a 15% corporate minimum tax.
The Biden administration has steered clear of saying that it canceled the deal to pressure Hungary, but Hungarian Foreign Minister Peter Szijjarto said Wednesday that Blinken had threatened to pull the treaty over Hungary's veto of the tax plan.
“When I had conversations with your secretary of state, he was fair because he made it very clear that might be among the consequences. And basically, they delivered,” Szijjarto said in an address to the conservative low-tax advocacy group Americans for Tax Reform in Washington, D.C.
Szijjarto said his government has no intentions of backing down on its opposition to the global minimum tax promoted by Treasury Secretary Janet Yellen, essentially assuring it will not come to be.
He made it clear that the Hungarian government, under the leadership of President Viktor Orban, would not agree to any negotiations with the EU that would see the country raise corporate taxes.
(Excerpt) Read more at washingtonexaminer.com ...
Libtards trying to bully counties they can’t control 🤪
excerpted:
“..The spokesperson said Hungary’s low corporate tax rate of 9% — the U.S. rate is 21% — is a cause for concern regarding the treaty and that the problem would be ameliorated with a global minimum tax. ..”
Countries
How about the US lowers its taxes and spends less on social services instead?
Rather than “minimum taxes” on folks we should be pushing the idea of “maximum taxes”.
“Raise your taxes, and cut your energy use, or we’ll have a globohomo color-revolution on your ass so fast, your head will spin!”
“Szijjarto said his government has no intentions of backing down on its opposition to the global minimum tax promoted by Treasury Secretary Janet Yellen, essentially assuring it will not come to be.
He made it clear that the Hungarian government, under the leadership of President Viktor Orban, would not agree to any negotiations with the EU that would see the country raise corporate taxes.”
Hungary has a long and detailed memory of the communist regime to which it was subjected! Good for you, Hungary!!!
köszönöm szépen Magyaroszag!
Is it just me or does this smack of quid pro quo?
Orban is not the president as stated in the article. He is the prime minister. This is fact.
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