V4 countries sign MoU on reform of EU budget strategy
Countries of the Visegrád Group signed a memorandum of understanding (MoU) on a proposal to restructure the European Unionʼs seven-year budget strategy at the annual Globsec Tatra Summit in Slovakia, Hungaryʼs Minister of Finance Mihály Varga told MTI by telephone on Friday.
The European Commissionʼs Multiannual Financial Framework for 2021-2027 puts member states in Central Europe at a disadvantage, Varga said. The MoU signed by the V4 states - Hungary, Poland, Slovakia, and the Czech Republic - outlines ways to make up for funding shortfalls in the seven-year strategy, he added.
EU funding should be used to support the convergence of the region, not punish it, Varga asserted. Hungary is pressing for a fair, simple and transparent system based on GNI for paying in to the EU budget, he added.
Varga voiced Hungaryʼs opposition at the conference to a reduction in customs duties from 20% to 10%. He also pressed for a solution to taxing internet companies that does not require harmonizing the corporate tax rate and does not violate agreements on the avoidance of double taxation.
Finance ministers from the V4 were joined at the conference by their counterparts from France and Germany, as well as from Austria, which holds the EUʼs rotating presidency.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.