Hungary Introduces Wealth Tax
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Insights by Echo AI
Hungary's government has announced plans to introduce a wealth tax, aiming to collect around 200 billion forints (approx. 2.4 billion euros) by 2027. The tax will target large private fortunes, with an annual rate of 1% for amounts exceeding a 3.3 million euro threshold, and 1.5% for assets over 307 million euros. Around 15,000 to 25,000 people are expected to be affected. The move is intended to redistribute the tax burden away from consumption and labor income.
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