Important: As of 1 November 2026, the proposed wealth tax legislation has not yet been adopted or promulgated. Its provisions may therefore be amended during the parliamentary process, and the information below is based on the currently available version of the bill.
Public Consultation and Parliamentary Process
- Public consultation: On 6 October 2026, the Ministry of Finance published the draft legislation for public consultation. The deadline for submitting comments was 14 October.
- Submission of the bill: On 27 October 2026, the Government submitted Bill No. T/930 to the Hungarian Parliament.
- Parliamentary stage: The bill is currently under parliamentary consideration. The final rules will be determined by the legislation as adopted and officially promulgated.
Key Parameters of the Proposed Legislation
- Wealth Threshold and Tax Rates
Under the proposal, the tax would apply to the portion of an individual’s taxable net wealth exceeding HUF 1 billion, after deduction of eligible liabilities.
- 1% on the taxable amount between HUF 1 billion and HUF 100 billion.
- 1.5% on the taxable amount exceeding HUF 100 billion.
- Proposed Effective Date and First Tax Return
- Proposed effective date: 15 December 2026.
- First valuation date for determining the taxpayer’s wealth: 31 December 2026.
- Proposed deadline for filing the first tax return and paying the tax: 31 August 2027.
- Potential Scope of Taxpayers
Based on the proposal, the legislation could primarily affect high-net-worth individuals and certain wealth management structures.
As a general rule, individuals who are tax residents of Hungary would be required to take into account both their domestic and foreign assets.
For individuals who are non-residents of Hungary, the tax base could include certain assets located in Hungary, as specified by the legislation.
When determining the actual tax liability, applicable double taxation treaties and specific tax residency rules must also be taken into consideration.
- Corporate Shareholdings and Wealth Management Structures
Ordinary commercial companies would not themselves become subject to the wealth tax. However, the value of corporate shareholdings owned by individuals could be included as part of their personal wealth.
The bill contains specific valuation rules applicable to corporate shareholdings, holding companies and certain wealth management structures.
This makes it particularly important to review ownership structures, corporate shareholdings and the individual assets held within them.
The above provisions reflect the rules contained in the bill as submitted to Parliament and may still be subject to change during the legislative process.
The text of the draft law is available at the following link:
https://kormany.hu/application/documents/d7cbe62a-f849-4056-824c-2186cfc74240/download