Hungary government proposes wealth tax on ultra-rich
The plan also broadens KATA access for small businesses and raises monthly fixed payments, while the government says it will improve social-security protection.
- On Tuesday, Prime Minister Peter Magyar announced Hungary will introduce a new wealth tax on assets exceeding HUF 1 billion, effective 1 January 2027, delivering on a campaign promise by his governing Tisza party.
- The centre-right Tisza defeated Prime Minister Viktor Orban's Fidesz party in April, ending 16 years of rule, and must now tackle a projected 7.5% budget deficit, prompting the government's fiscal reform agenda.
- Wealth exceeding HUF 1 billion will be taxed at 1% annually, while assets exceeding HUF 100 billion face a 1.5% rate; the tax covers real estate, investments, company holdings, and foreign assets with loans deductible.
- Taxpayers must file self-assessments by 31 August 2027 based on assets held at year-end 2026; The Hungarian Tax and Customs Administration will provide a calculator to determine taxable wealth.
- Separately, the government will broaden KATA small-business tax access and remove a special HUF 500 million income limit for professional athletes from 2027, aligning them with the standard HUF 60 million cap.
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52 Articles
Dnevni list Danas
The Hungarian government has proposed the introduction of a wealth tax aimed at individuals whose assets exceed one billion forints ($3.08 million), Prime Minister Peter Magyar said today, fulfilling a pre-election promise of his ruling Tisa party, the British agency Reuters reported.
The Hungarian government will introduce, from 1 January 2027, an individual property tax that exceeds 1 billion forints, announced on Tuesday Prime Minister Peter Magyar. The tax package also includes extending the access of small entrepreneurs to the simplified KATA tax system, but also increasing the monthly tax paid by them.
Hungary government proposes wealth tax on ultra-rich
Hungary's government has proposed a wealth tax targeting individuals with assets exceeding 1 billion forints ($3.08 million), Prime Minister Peter Magyar said on Tuesday, delivering on a campaign promise of his governing Tisza party.
Prime Minister Péter Magyar announced significant changes regarding the Kata taxation on his Facebook page.
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