WASHINGTON D.C. – National Foreign Trade Council (NFTC) President Jake Colvin released the following statement in response to reports that the United States would take steps to withdraw from the U.S. tax treaty with Hungary.
“Withdrawing from our bilateral tax treaty due to Hungary’s concerns with the EU Directive is counterproductive.
“The United States should want to be regarded as a reliable treaty partner, and these actions instead may erode the trust of other current and potential future partners.
“We strongly urge the Treasury Department to reconsider this decision, which creates uncertainty and harms businesses and workers in both countries, and to instead redouble efforts to work with the Senate to ratify the updated U.S.-Hungary Tax Treaty that remains pending.”
About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.