Hungary to introduce new wealth tax for high-net-worth individuals

wealth tax Hungary András Kármán tax reform net worth

The Hungarian government has announced plans to introduce a new wealth tax, scheduled to take effect on January 1, 2027. The tax will target individuals with a net wealth exceeding 1 billion forints. Under the proposed structure, a 1 percent annual tax rate will apply to wealth portions between 1 billion and 100 billion forints, while a 1.5 percent rate will apply to the portion exceeding 100 billion forints.

The tax base is broad, encompassing savings, real estate, personal property, company assets, investment funds, and assets held in trust. For domestic tax residents, the tax will apply to both Hungarian and foreign assets. To prevent asset concealment, the regulation includes provisions to address wealth transferred to spouses or minor children.

Finance Minister András Kármán noted that taxpayers can choose to donate 5 percent of their wealth tax to public causes. The National Tax and Customs Administration (NAV) will provide online calculators to assist with asset valuation. For real estate, values will be determined based on market prices or indexed historical transaction values. The first tax payments are expected to be due by August 31, 2027.

Entities

András Kármán · Hungary · National Tax and Customs Administration · Peter Magyar · Viktor Orbán

Claims

What the coverage asserts, and how many sources carry each claim.

[● 7 SOURCES] Finance Minister András Kármán stated that the tax aims to strengthen the principle of shared social burden. mfor.hu · mezohir.hu · www.economx.hu · hirklikk.hu · novekedes.hu · +2 more
[● 9 SOURCES] A 1 percent tax rate will apply to wealth portions between 1 billion and 100 billion forints. mezohir.hu · mfor.hu · www.economx.hu · hirklikk.hu · novekedes.hu · +4 more
[● 9 SOURCES] A 1.5 percent tax rate will apply to wealth portions exceeding 100 billion forints. mezohir.hu · mfor.hu · www.economx.hu · hirklikk.hu · novekedes.hu · +4 more
[● 9 SOURCES] The tax base includes assets held both in Hungary and abroad for domestic tax residents. mezohir.hu · mfor.hu · www.economx.hu · hirklikk.hu · novekedes.hu · +4 more
[● 6 SOURCES] Real estate values for the tax base will be determined using market prices or indexed historical transaction values. mezohir.hu · mfor.hu · www.economx.hu · hirklikk.hu · www.vg.hu · +1 more
[● 9 SOURCES] The tax applies to savings, real estate, personal property, company assets, and investment funds. mfor.hu · mezohir.hu · www.economx.hu · hirklikk.hu · novekedes.hu · +4 more
[● 8 SOURCES] The Hungarian government is planning to introduce a new wealth tax. mezohir.hu · www.economx.hu · hirklikk.hu · novekedes.hu · polityka.co.pl · +3 more
[● 5 SOURCES] The regulation is designed to prevent asset concealment by transferring wealth to spouses or minor children. mfor.hu · www.economx.hu · hirklikk.hu · www.vg.hu · index.hu