Switzerland and Hungary announce new fiscal and immigration tax measures

Switzerland is considering the introduction of a tax for foreign workers. The Swiss Parliament approved a measure on September 29 to implement a safeguard clause regarding immigration from the European Union. If activated due to serious economic or social issues caused by high immigration, the tax would range between 2,000 and 4,000 Swiss francs (approximately 2,100 to 4,300 euros). The Council of States proposes that companies pay this fee for employees with work contracts, and it would be a one-time payment rather than an annual one.

In Hungary, the government has announced a new wealth tax set to begin on January 1, 2027. The tax will apply to individual assets exceeding 1 billion forints. A 1% rate will apply to assets above this threshold, increasing to 1.5% for assets exceeding 100 billion forints. The taxable base includes real estate, investments, company holdings, and foreign assets.

The Hungarian fiscal package also includes changes for small entrepreneurs through the KATA simplified taxation system. While access to KATA will be expanded to include part-time workers, retirees, and students, the monthly tax amount for these contributors will increase.