Hungary agrees to global tax deal, finance minister says

FILE PHOTO: Hungarian Finance Minister Varga attends a business conference in Budapest

BUDAPEST (Reuters) – Hungary has agreed to join the agreement on a global corporate minimum tax as the conditions it proposed, which included a 10-year transitional period, have been met, Finance Minister Mihaly Varga told reporters on Friday.

“We have managed to reach a breakthrough on the global minimum tax deal … so Hungary could join the deal with a good heart,” Varga said, adding that Hungary’s 9% corporate tax rate will not change, as there will be a targeted solution to collect the global tax.

(Reporting by Krisztina Than; Editing by Alison Williams)