"US Retaliates Against Hungary For Obstructing 15% Global Minimum Tax" - Zero Hedge (New World Order emerging)

[Tom Nolan + 2,443]

In response to Hungary's obstruction of the European Union's adoption of a 15% global minimum tax on corporate income, the Biden administration on Friday announced it will terminate a 43-year-old tax treaty with the country. 

Hungary blocked the EU's finalization of the 15% minimum tax scheme in June. Over the past dozen years, Hungary has slashed its corporate tax rate from 19% to just 9%.  

In October 2020, 136 countries of the Organisation for Economic Co-operation and Development (OECD)—together representing more than 90% of the world's GDP—agreed to move forward with the tax plan. Making it an actual reality, however, requires countries and economic blocs to pass legislation. ,,,

https://www.zerohedge.com/geopolitical/us-retaliates-against-hungary-obstructing-15-global-minimum-tax 

 

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