Hungary proposes 1% wealth tax on assets above $3.08 million from 2027
Hungary's government has proposed a wealth tax targeting individuals with assets exceeding 1 billion forints ($3.08 million), Prime Minister Peter Magyar said. For wealth above 1 billion forints, the annual tax would be 1% on the excess, starting January 2027. Those with wealth above 100 billion forints ($308 million) would face a higher rate of 1.5% on the excess. The tax would include all forms of wealth, including real estate, investments, company holdings, and assets located outside Hungary.
08 million), Prime Minister Peter Magyar said on Tuesday, delivering on a campaign promise of his governing Tisza party. 5% of national output again this year. For those with wealth exceeding 1 billion forints, the government proposes an annual 1% wealth tax on the portion of their wealth above that threshold, starting in January 2027. 5% on the excess, Magyar said in a video posted on his Facebook page.
The tax would include all forms of wealth, including real estate, investments, company holdings, and assets located outside Hungary, with loans deductible from the tax base. It remains unclear what impact the new tax will have on next year's budget. The government is set later this month to announce its 2027 budget and a roadmap towards adopting the euro. 50 billion) according to the 2026 list published by Forbes.
7 billion forints ($2 billion). Magyar said the tax proposals would shortly be published on the government website for public consultation. It is then expected to be approved by parliament, where Tisza has a large majority. com;)