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Global Tax Deal Faces Roadblocks From Hungary, Congress

U.S. and European officers try to inject contemporary momentum into a world drive for a minimal company tax fee, however they’re discovering it troublesome to navigate round a collection of roadblocks, specifically Democrats’ slim margins in Congress and consequential objections from Hungary.

Nearly 140 international locations agreed last year to impose a 15% minimal tax on giant firms, paving the way in which for probably the most vital overhaul of worldwide tax guidelines in a century. Getting to that time took years of negotiations that usually appeared near collapse. Now, eight months later, there was little progress on changing national laws to implement the tax.

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