Illustration - Photo: pxfuel

LMP: Multinationals benefitting from Hungary-EU deal

"Multinational companies have scored a win yet again," the deputy group leader of opposition LMP said on Tuesday, referring to an agreement between the Hungarian government and the European Union on the proposed global minimum tax.

The compromise reached “is one that large capitalists would be glad to see”, Mate Kanasz-Nagy told a press conference, adding that thanks to Hungary’s exemption from applying the minimum tax, large corporates would also be exempted from paying higher corporation taxes.

Hungary will “remain a tax haven”, and international companies will “pay less to employees than, for example, in Germany” and also enjoy the benefits of more lenient environmental rules, he said.

Kanasz-Nagy called for an “alternative” solution that supported small and medium-sized companies and the public sector.

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