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EP Committee finds Hungary shows traits of Tax Haven


Hungary is among seven European Union countries that “display traits of a tax haven and facilitate aggressive tax planning”, according to a finding by the European Parliament’s Special Committee on Financial Crimes, Tax Evasion and Tax Avoidance (TAX3).


The finding was among conclusions in a package of recommendations approved by MEPs on Tuesday after a one-year inquiry.


The other six countries are Belgium, Cyprus, Ireland, Luxembourg, Malta and the Netherlands.


Among the recommendations in the package are ones to start work on a proposal for a European financial police force and an EU financial intelligence unit, as well as the establishment of an EU anti-money laundering watchdog.



With the 7.5 per cent tax that multinational companies have to pay, Hungary is now ahead of other tax havens like Ireland, Cyprus or Malta. It is only in the Benelux states that multinationals get more benefits from the government than in Hungary.

source: https://dailynewshungary.com/ep-committee-finds-hungary-shows-traits-of-tax-haven/