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Luxury tax would apply to one-fifth of Hungarian homes

The government's proposed luxury tax would apply to about one-fifth of the 4.3 million homes in Hungary, Lászlo Zara, who heads the National Association of Tax Advisors, said at a conference in Budapest on Thursday.

About 2 million of the homes in Hungary have three or more rooms, and if just half of these are valued at more than HUF 30 million, the luxury tax will apply to about one-fifth of Hungarian homes, Zara explained.

The government wants to levy a 0.35% tax on property and vehicles valued at over HUF 30 million and a 0.5% tax on such assets worth more than HUF 50 million. (MTI-ECONEWS)