Hungary plans to introduce wealth tax from 2027-Xinhua
BUDAPEST, Oct. 6 (Xinhua) -- Hungarian Prime Minister Peter Magyar announced Tuesday that the government plans to introduce a wealth tax from Jan. 1, 2027. The tax will be 1 percent on wealth exceeding 1 billion Hungarian forints (3.1 million U.S. dollars) and 1.5 percent on wealth exceeding 100 billion forints (310 million dollars), Magyar said in a Facebook video. It will cover property, investments and company stakes, including assets held abroad or through asset-management structures, he added. Debts will be deductible from the tax base, while property and vehicle taxes can be credited against the liability. The first annual self-assessed payment will be due by Aug. 31, 2027, based on assets held at the end of 2026, Magyar said. The proposed measure will undergo broad public co...