The corporate tax rate was 19% in 2010, currently 9%, and it will remain so! With this, Hungary gained a competitive advantage, and thanks to the work of Mihály Varga, we maintained this competitive advantage. German, Chinese, American companies do not come here because they love us, but because our country is competitive!
We have the cheapest gas and electricity in the whole EUhttps://bit.ly/3AtPwhr
We have the lowest corporate taxhttps://bit.ly/30anMCg
In 10 years, taxes on wages have fallen by 50 percenthttps://bit.ly/3lnZb4X
The Hungarian workforce is performing excellently!
That's how we got 1,000,000 new jobs!https://bit.ly/3Apsto3
We succeeded in enforcing Hungarian interests on the global minimum tax
An important result was achieved in the international negotiations on the global minimum tax: we succeeded in enforcing Hungarian interests, Minister of Finance Mihály Varga announced on his community page on Friday.
He said that the Hungarian position was consistent throughout: it was made clear that only a global minimum tax would be adopted that would not mean a tax increase in Hungary, would not jeopardize the competitive advantage of the Hungarian economy and would protect the jobs of the Hungarian people.
More than 100 proposed amendments have resulted in 2.5 years of hard work. The head of the ministry highlighted the three most important points: one said that the corporate tax rate will not change, it will remain at 9 percent. Hungary can collect the global tax with a targeted solution.
They also achieved that real economic activity should not be taxed. This means that corporate assets and corporate wage payments will be deductible from the tax rate using a special calculation method, so companies that do not engage in fictitious but actual asset and wage-paying activities will be able to take advantage of this benefit.
The third result of the agreement, according to the Minister, is that a special rate will apply for a transitional period of 10 years, for ten years the tax rate will be calculated with a reduced tax return, a reduced tax credit.
"We have achieved a very serious result, I can safely say that a Hungarian success has been achieved, we did well to represent our interests firmly," said Mihály Varga, adding that the result was a compromise that they could join with a good heart.