Hungary’s Péter Magyar unveils tax program: lower burdens for workers, wealth tax on the richest
Péter Magyar, leader of the opposition Tisza Party in Hungary, has presented a detailed tax plan that promises lower taxes for minimum wage earners and those earning below the median salary, while introducing a wealth tax for the country’s richest citizens.
Income tax relief for low and middle earners
Under the proposal, the personal income tax for minimum wage workers would be reduced from the current 15 percent to 9 percent through tax credits. This would amount to an annual saving of HUF 240,000 (EUR 605). Those earning below the median wage – currently HUF 625,000 (EUR 1,575) gross per month – would also benefit from tax relief.
According to Péter Magyar:
- a gross monthly salary of HUF 420,000 (EUR 1,058) would mean HUF 15,000 (EUR 38) less tax,
- at HUF 500,000 (EUR 1,260) the saving would be HUF 10,000 (EUR 25),
- while at HUF 625,000 (EUR 1,575) workers would still save HUF 5,000 (EUR 13) per month.
For those earning above the median, the current 15 percent rate would remain unchanged. “The Tisza government will not raise any tax on wages,” Magyar stressed.
Wealth tax for billionaires
The Tisza Party also plans to introduce a 1 percent annual wealth tax on assets exceeding HUF 5 billion (EUR 12.6 million), meaning a contribution of HUF 50 million (EUR 12,600) per year. Péter Magyar argued that this would generate almost the same revenue as the personal income tax cuts for two million Hungarians.
“The wealthiest one percent own one-third of the country’s assets. They must take greater responsibility in social solidarity,” he said.
Lower VAT and zero tax on medicines
The party’s program also includes significant VAT cuts: from 27 to 5 percent on healthy food and firewood, while medicines would become entirely VAT-free.
National Asset Recovery Agency
Magyar announced plans to establish a new body, the National Asset Recovery and Protection Agency, which would focus on reclaiming assets accumulated by “Orbán’s oligarchs”.
Fidesz criticises, Péter Magyar responds
The announcement follows reports by news site Index, which claimed, based on a leaked memo, that the Tisza Party was planning massive tax hikes. The party called the report a lie. Prime Minister Viktor Orbán and Minister János Lázár also criticised Péter Magyar, who responded by publishing his detailed tax plan.
Read more news about the Tisza Party on Daily News Hungary.
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About time. Robbing 33.5% of gross minimum wage is a disgrace. No progressive taxation, no tax free allowance in Hungary. Put simply, low wage earners simply cannot afford to lose such a percentage of their gross salary when the cost of living is as high as it is.
What he doesn’t mention is that he would cave to Brussels and abolish the energy subsidies, causing our gas and electric bills to skyrocket. They would increase at least five times, wiping out the supposed tax savings for the worst-off.
This guy is a snake oil salesman.
RESULTS continue to be EXHIBITED after (15) fifteen years in Government, led by Victor Mihaly. Orban, the Fidesz Government of Hungary – the DELIVERING of Hungary, to the SICKENING place we presently occupy.
Hungary, our FUTURE is NOT to again re-elect, the Orban led Fidesz Government that HAVE delivered us to this “darkened” new era abyss, that is shrouded in gargantuan un-certainty.
Hungary is NOT a Democracy.
Hungary, through the distillation of “driven” by Victor Mihaly. Orban who rightly is referred in Europe, the European Union and Globally, countries that are Governed under Democracy, or who respect the word Democracy, as the “Judas” of Democracy who has, with his Fidesz led “heinous” Government of Hungary, betrayed the citizens of Hungary, our country Hungary.
Hungary, we will have in the election of the Tisza Party under Peter Magyar a GREATER balanced society, a fairer society in decision making, through GREATER open consultation dialogue – Government with the PEOPLE, the tax payers, from “all stations in life” of Hungary, as opposed to the DICTATORIAL “style” of Orban and his Fidesz Governments, that the personal “greasing of palms” has dominated their “Toxic Culture” – that has GROW and grown over the period in time of (15) fifteen years under the Prime Ministership of Victor Mihaly. Orban.
Victor Mihaly. Orban – his Fidesz Government have DESTROYED all Hungary’s relationships, the TRUST and Respect with Global countries that are Governed or “embrace” respect the word DEMOCRACY.
Removal, the DOWNFALL, through People Power, in Solidarity conducted orderly, the VOICE of the Hungarian people exercised through our “freedom” under DEMOCRACY to VOTE come Spring of 2026, we must SWEEP this Orban led Fidesz Government out of Office, out of POWER – for our FUTURE.
Victor Mihaly. Orban his Fidesz led Government have NOTHING, absolutely NOTHING to give Hungary for the FUTURE of Hungary.
WHAT debt they will LEAVE us being Debt on the millions of the “ageing” decreasing in number population of Hungary.
What Debt in Fines outstanding they will LEAVE us being again DEBT to millions in MONEY owed to the European Union, that are “compound” increasing daily in amount – through INTEREST charges, for their being found GUILTY of non-compliance to Law’s in being a member country of the European Union, conduct as a Government, under Victor Mihaly. Orban of Fraud and of Mis-representation in the provision of Funding / Grants from the European Union.
Victor Mihaly. Orban, the name Fidesz, the Fidesz Government – nothing, absolutely NOTHING to give for the FUTURE of Hungary.
Hungary is NOT a DEMOCRACY.
One issue that matters most , besides the killing ukraine. Orban is alone in the EU leaders to stop it. The EU has been a clown show – while the EU sends more mone to jeep it going. Trump is the one who end it, and has been working very hard to end it along with Orban.
We never hear his position on 3rd world immigration. Is the EUs man going to follow EU rules.