Robert Besser
19 Jun 2022, 17:45 GMT+10
BRUSSELS, Belgium: Hungary has blocked a global agreement on imposing a minimum corporate tax rate earlier proposed by the Organization for Economic Co-operation and Development (OECD).
Budapest's move to oppose the proposal, which is supported by more than 100 countries, could potentially force European Union finance ministers to delay a vote planned to include it in EU law.
One of the diplomats added that after Poland dropped its opposition to the agreement, Hungary emerged as a last-minute hurdle, while a second diplomat said that a deal was now unlikely, but a public debate on the tax was still on the agenda for the upcoming meeting of EU finance ministers.
Hungary and Poland have been in conflict with the European Commission, which has delayed the release of COVID-19 recovery funds over concerns about their stances on various EU values, such as the rule of law.
While the commission approved funds for Poland two weeks ago, on the condition that the country's government reform its judiciary, recovery fund money for Hungary has not been approved.
Get a daily dose of Germany Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Germany Sun.
More InformationDUBLIN, Ireland: Manufacturing in Ireland has declined for the first time in over one year, according to a June report ...
GENEVA, Switzerland: Swiss pharmaceutical group Novartis has said, as part of its previously announced restructuring program, that it could cut ...
Schloss Elmau [Germany], July 2 (ANI): Prime Minister Narendra Modi has a clear message for the world's richest nations comprising ...
A ceasefire in Ukraine instead of anti-Russia sanctions could help tackle rising prices, Hungarian PM Viktor Orban has saidA ceasefire ...
New Delhi [India], July 2 (ANI): India's retail inflation during the financial year FY22-23 is expected to average at 6.8 ...
Kabul [Afghanistan], July 2 (ANI): Due to the displacement of Afghans back to the country by the Taliban, up to ...
WASHINGTON D.C.: U.S. Commerce Secretary Gina Raimondo has said that since the U.S. and its allies imposed sanctions on Moscow ...
LONDON, England: A second referendum on Scottish independence is set to be held in October 2023. The Scottish government, led ...
BERLIN, Germany: A German Interior Ministry spokesperson has said that in a bid to relieve airports overwhelmed by staff shortages ...
PARIS, France: In a written statement made this week confirming a report from broadcaster RTL, France's energy ministry said the ...
WATFORD, UK: Watford F.C. has cancelled a friendly match against the Qatar national team due to the Gulf country's human ...
JAKARTA, Indonesia: Indonesian President Joko Widodo has said that he will urge his Russian and Ukrainian counterparts to open peace ...