Hungary aims to tax large fortunes much more strictly, starting on January 1, 2027

Hungary will tax large fortunes starting on January 1, 2027, under stricter conditions than those initially promised by the government. The leader of the opposition Tisza party, Peter Magyar, said in Szolnok that the wealth tax had been one of the party’s most popular promises, supported even by voters of the Fidesz party. The statement was made during a speech in which Magyar also addressed the issue of his parliamentary immunity.

He called on the Tisza party’s parliamentary group to vote unanimously in favor of lifting his immunity, a measure requested by Hungary’s prosecutor general. The request is related to an investigation into theft concerning a 2024 incident, in which Magyar is accused of taking the phone of a man who was filming him in a nightclub and throwing it into the Danube.

Last year, the European Parliament refused to lift his immunity as a Member of the European Parliament. Magyar said that he had “absolutely nothing to hide” and that he would do the same to defend his friends or young people, women and men, from the harassment of a “paid provocateur.” “I would do it again now and, if necessary, I will pay the price,” he added. The disagreements over fiscal policies and the criminal investigation arise amid the political confrontation between the Tisza party and the ruling Fidesz party.