Author: Darren Smith

Hungary’s corporate tax rate of 7.5 per cent has placed it ahead of traditional tax havens including Ireland, Cyprus and Malta, according to findings from the European Parliament’s Special Committee on Financial Crimes, Tax Evasion and Tax Avoidance. The committee identified Hungary as one of seven European countries displaying characteristics of a tax haven, with its low multinational tax rate raising concerns about aggressive tax planning structures being exploited by international corporations. Co-rapporteur Jeppe Kofod stated: “Europe has a serious money laundering and tax fraud problem. We have the world’s largest, richest and most integrated single market with free movement…