Details About the Wealth Tax Are Leaking: Hungarian Billionaires May Even Move
4 Articles
4 Articles
Tuesday's Checklist has been published: exciting details have emerged about the wealth tax, from an unofficial draft of the Ministry of Finance - this is what we will deal with in the first half of our broadcast. The wealth tax would apply to net private assets over 1 billion forints, with a 1 percent rate, but the tax-free threshold is not per family, but per taxpayer, so the wealth of a single family can be legally divided into several parts, …
There are still some very exciting months ahead of us in the fall from a tax point of view. From the end of the year or the very beginning of next year, the wealth tax could come into force, which could be the strictest in Europe. In addition, the government can expand the itemized tax (kata) for small tax businesses, but up to 9 percent corporate tax and rules for durable investment accounts (TBS) may change.
A serious campaign has been launched behind the scenes against the emerging wealth tax, which, according to some calculations, will even take away the momentum that the economy could draw from EU funds. Some of the suggestions from professional circles would be worth considering.
On paper, the wealth tax may promise an annual revenue of up to 500–600 billion forints, but the actual amount that can be collected may be only a fraction of this. According to a recent projection by Blochamps Capital, problems may arise not only with the largest assets. Even around the one billion forint threshold, there may be serious questions about exactly how much wealth can be taxed and how much it will cost to prove it.
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
