The Exit Tax Is Here - The Tisza Government Is Introducing a New Tax in Hungary
6 Articles
6 Articles
When the draft law on wealth tax was presented in early October, the introduction of an exit tax in Hungary was already discussed, and on Tuesday evening the detailed regulations were published, simultaneously with the submission of the draft law on wealth tax to parliament.
The exit tax is here, but the method of exempting foreign assets is also changing.
Global technology companies typically sell their services from other EU member states, so it is currently questionable how and how effectively the Hungarian advertising tax will be applied to them.
András Kármán and his family would tax assets that have been hidden abroad to avoid wealth tax by expanding the Personal Income Tax Act.
The government has submitted a bill to introduce an exit tax on the assets of those moving abroad. Under the regulation, which will come into effect on January 1, 2027, private individuals with significant financial assets will have to pay a 15 percent personal income tax on their accumulated, unrealized capital gains if they terminate their Hungarian tax residency, Portfolio reported.
A new tax burden may appear in Hungary from the beginning of next year: the government would introduce an exit tax, which would also affect the unrealized profits accumulated on certain investments of individuals moving abroad.
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
