WEALTH TAX REGISTRATION

Given that this is a completely new development, many of our existing clients – and others – may find it challenging to navigate the situation, complete the necessary asset valuations, and submit the required tax returns by the deadline.

Leveraging its extensive network of partners – including accountants, auditors, and lawyers – LAVECO Kft. can provide effective assistance in ensuring that all necessary tax returns are filed and the tax is paid on time, in full compliance with legal requirements. Please note that every client and every case is unique; therefore, the information provided on this website is for general guidance only and does not constitute specific tax advice for any individual situation.

WHAT IS KNOWN FOR CERTAIN

The Legislative process

• Public Consultation
  The Ministry of Finance has published the draft legislation for public consultation on the official government portal (kormany.hu). Comments regarding the proposal could be submitted until October 14, 2026.
• Parliamentary Stage
  Following a public consultation process, the government has submitted the revised bill to the National Assembly; it is now available as an official parliamentary document.

Key parameters of the draft legislation

Threshold and tax rate: The tax applies exclusively to the portion of net wealth—calculated after deducting liabilities—that exceeds 1 billion HUF.

• For a tax base between 1 billion and 100 billion HUF: 1%
• For the portion of the tax base exceeding 100 billion HUF: 1.5%

Timeline and entry into force

According to the draft, the law will enter into force on December 15, 2026. The reference date for the initial assessment of wealth is December 31, 2026, while the deadline for the first tax return and payment is August 31, 2027.