Szijjártó outlines economic, tax policies at meeting of U.S. business leaders
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Minister of Foreign Affairs and Trade Péter Szijjártó reiterated Hungary's stand against the global minimum corporate tax rate at a presentation of the government's economic and tax policies to American business leaders in Washington D.C. on Wednesday, according to a report by state news wire MTI.
At the meeting, organized by the conservative advocacy group Americans for Tax Reform, Szijjártó noted that Hungary's government had introduced a 9% corporate tax rate, the lowest in Europe, and pointed to the competitive advantage low tax rates give the country, evidenced by strong GDP growth along with high employment and investment levels.
He added that cutting tax rates requires disciplined fiscal policy and stability as well as political courage.
Szijjártó said the push in Europe to roll out the 15% global minimum corporate tax rate would take away that competitive advantage by means of "bureaucratic measures". The initiative brings back memories of communism, he added.
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