Hungary blocks global minimum tax

Hungary blocked an EU directive that would impose a 15% minimum tax on multinational corporations, arguing the levy would deal a “low blow” to European competitiveness and endanger jobs. The tax reform is part of a global deal achieved last year at the Organisation for Economic Co-operation and Development (OECD). It has been endorsed by 136 countries representing more than 90% of global GDP. The coronavirus pandemic injected momentum into the talks as governments around the world have scrambled for…

Hungary vs. Google

On 12 September 2019, the advocate general of the European Court of Justice held that Hungary’s advertisement tax legislation based on which Google was fined HUF 1 billion (approx. EUR 3 million) constitutes an unjustifiable restriction on the freedom to provide services. Hungary’s advertisement tax was introduced in 2014 as a special tax on the turnover from the broadcasting or publication of advertisements. Individuals or entities that broadcast or publish advertisements may – irrespective of their residence – be subject…