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Reports: Leaders Approve Hungary, Ukraine & Corporate Tax Package

EU

Reports coming from the European Council summit in Brussels stating that a deal has been reached among leaders to approve a 'written procedure' relating to: approving a EUR18bn aid package for Ukraine, approval of Budapest's COVID-19 Recovery and Resilience Fund plans, approve the withholding of a portion of Hungary's cohesion funds for rule of law violations, and the approval of a minimum corporate tax rate across the bloc.

  • Poland had been seen as a holdout on the corporate tax issue. Given the composition of the written procedure, approval of all sections were required rather than individually approving each section.

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