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 Herald Globe 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 Herald Globe.
More InformationSULAWESI, Indonesia: Using just a rope, an Indonesian man, supported by fellow villagers on the island of Sulawesi, captured a ...
WATFORD, UK: Watford F.C. has cancelled a friendly match against the Qatar national team due to the Gulf country's human ...
ISTANBUL, Turkey: Turkish police detained dozens of people after local authorities banned Istanbul's annual Pride parade from going ahead this ...
PARIS, France: Amidst shortages and soaring prices caused by Russia's invasion of Ukraine and subsequent supply cuts, the heads of ...
WASHINGTON D.C.: In the latest in a series of sanctions aimed at further isolating Russia economically over its invasion of ...
MAGWAY, Myanmar - At least eight resistance fighters were killed on Wednesday when junta troops intercepted a truck they were ...
The Houston Astros placed catcher Jason Castro on the 10-day injured list Friday due to left knee discomfort. Castro, 35, ...
Cleveland could soon have a decision to make on restricted free agent Collin Sexton, Hoops Wire reported. According to the ...
New York Mets right-hander Chris Bassitt was scratched from his Friday start and placed on the injured list with a ...
The Minnesota Twins called up Juan Minaya from Triple-A St. Paul and designated fellow right-hander Tyler Thornburg for assignment Friday. ...
Center Kevon Looney is returning to the Golden State Warriors on a three-year, $25.5 million deal, ESPN reported Friday. Looney, ...
New York Mets owner Steve Cohen elected to have a little fun on July 1, or what is known in ...