Hungary’s Prime Minister Viktor Orbán announced, in a release on 11 November 2024, that his government is seeking to sign a new income tax treaty with US president-elect Donald Trump.
Orbán said Hungary and the US will need to sign “a great agreement” to prevent double taxation, as the incumbent administration “has failed to renew the one that expired.”
The US has terminated the previous tax treaty between the two countries, effective 1 January 2024.
In an interview with TV2 on Sunday, Orbán said Hungary and the US will need to sign an agreement to prevent double taxation, as the incumbent administration “has failed to renew the one that expired.” He added that he was seeking an agreement with Trump “on some major economic matters.”
“I think we will have the opportunity to do so,” he said.
Referring to the recent EU summit in Budapest, PM Orbán said participants had realised that “Europe cannot go on doing what it has done so far” and that it needed change. European leaders “so far giving Ukraine everything will now switch to the opposite,” he said, adding that “we will need to manage the change together.”
“I wouldn’t want to see Europe being torn apart into opposing camps,” the prime minister said, adding that his goal was to “shift from a pro-war position to a pro-peace approach together.”
