Hungarian tax and audit agencies step up scrutiny of trust assets and large firms
State Audit Office (ÁSZ) chairman Windisch László said he will not resign and that removal is not possible under current law, while continuing investigations into the National Cultural Fund and the 2023 MNB scandal.
The National Tax and Customs Administration (NAV) announced a new regime to inspect trust‑asset structures (bizalmi vagyonkezelési) beginning 31 August 2026. The first wave will target structures registered before 12 September 2023, and from 2028 all such structures will be subject to inspection. The audits will focus on whether the arrangements serve genuine purposes beyond tax advantage, scrutinising initiators, controllers and rapid transfers of assets.
Separately, NAV partially lifted account freezes on companies owned by concert promoter Balásy Gyula, allowing the firms to settle outstanding debts. Two of three enforcement actions—against New Land Media Kft. and Lounge Event Kft.—were terminated, with the third case expected to close soon. The assets of Balásy’s firms are estimated at 55–60 billion forint, and their bank balances exceed 26 billion forint by the end of 2025. These moves reflect a broader governmental push to tighten oversight of high‑value private wealth and ensure compliance with fiscal regulations.
Entities: Balásy Gyula · National Tax and Customs Administration (NAV) · Windisch László
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [○ 1 SOURCE] Two of three enforcement actions against Balásy Gyula’s companies – New Land Media Kft. and Lounge Event Kft. – were terminated. (NAV announced the termination of the two cases.)
- [○ 1 SOURCE] NAV partially lifted the account freezes on companies owned by Balásy Gyula, allowing them to pay debts. (The tax authority removed restrictions on the firms' bank accounts to enable payments.)
- [○ 1 SOURCE] ÁSZ chairman Windisch László refused to resign despite calls for his departure. (Windisch László said he will not resign and removal is not feasible under current law.)
- [○ 1 SOURCE] Balásy Gyula’s firms are estimated to hold assets worth 55–60 billion forint, with bank balances exceeding 26 billion forint by 2025. (The valuation of the companies’ assets and cash reserves was reported.)
- [○ 1 SOURCE] NAV will first inspect trust structures registered before 12 September 2023. (Initial inspections target those entered in the register before that date.)
- [○ 1 SOURCE] Windisch László said removal of the ÁSZ chair is not possible under existing legislation. (He stated removal is not feasible under current law.)
- [○ 1 SOURCE] NAV will begin mandatory inspections of trust‑asset (bizalmi vagyonkezelési) structures from 31 August 2026. (The new law introduces compulsory NAV checks on existing trust structures.)
- [○ 1 SOURCE] From 2028 all trust‑asset structures will be subject to NAV inspection. (The legislation mandates that from 2028 every such structure can be examined.)