A global deal to introduce a minimum tax rate on company profits hit a fresh roadblock Friday after Hungary vetoed a European Union agreement to implement the measure, which is also stalled in the U.S.
The deal to impose a 15% minimum tax on the profits of large corporations was agreed by 137 countries in 2021, paving the way for the most significant overhaul of international tax rules in a century. Governments had hoped to implement the changes next year, but mounting opposition in Europe and the U.S. means that target now seems out of reach.
