Wealth Tax: the Tisza Government Expects to Generate 800 Billion Forints in Revenue From This in Four Years
10 Articles
10 Articles
The Tisza government presented a detailed draft of the wealth tax on Tuesday, which was submitted for public consultation. The richest would pay even more than previously discussed, it would be difficult to take wealth abroad and hide it, but the new tax could be painful for many medium-sized companies.
The government has published a draft of the wealth tax for public consultation. The Ministry of Finance has also attached the impact assessment sheet, which shows that they expect an additional budget revenue of 800 billion forints from this "during the examined period", which is a 4-year period.
The Hungarian government led by Peter Magyar proposed the introduction of an annual property tax for persons holding assets worth more than a billion forints, the equivalent of about $3.08 million. The measure represents one of the electoral promises of the Tisza party and would come into force on January 1, 2027. [...]
The Hungarian government has proposed an asset tax that targets people who hold assets worth [...]
Based on the wealth tax draft submitted for public consultation, those affected will have to prepare a detailed asset inventory by the end of 2026, which could take months to compile in the case of more complex assets, Niveus points out. In addition, in a later NAV audit, they will also have to be able to substantiate how the value of each asset was determined. In particular, the valuation of real estate, non-listed company shares, foreign asset…
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