Hungary to Tax Wealth Over 2.7 Million Euros Starting 2027

The Hungarian government is preparing a wealth tax on individuals holding assets exceeding one billion forints, approximately 2.7 million euros. The new tax is set to take effect in 2027 and could generate hundreds of billions of forints annually for the state budget. The measure targets wealthy residents and is expected to apply to a limited number of taxpayers with high-value assets. Officials are still finalizing the tax rate and implementation details, with the goal of increasing fiscal revenue amid ongoing budget pressures. This proposal marks a significant policy shift for Hungary, which has traditionally favored low taxation to attract investment. The tax could face opposition from business groups and economic experts concerned about its impact on capital retention and competitiveness.