Hungary Mulling Various Options to Introduce Wealth Tax: Magyar

Hungary is working on several options to introduce a wealth tax, Prime Minister Peter Magyar says.

• Hungary plans HUF300b-600b ($1b-2b) in annual revenue from the tax, with details yet to be determined, he tells reporters in Budapest
• Tax to be passed in 2027 budget in Oct.
• Magyar mentions stakes in companies, real estate and other assets as base of the tax
• Goal of the tax is not punitive, but to broaden social responsibility, alleviate the difference in effective tax rates between poorer and richer households, and to “fund lower personal income taxes of two million people,” Magyar says

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