Full house at Wealth Tax Conference 2026

Jalsovszky Private held a highly successful conference on 21 October. Although the number of registrations had already indicated the high level of interest, we were still surprised by the attendance of more than 150 participants. The domed hall at MOM Kult was so packed that people were practically hanging from the chandelier.

The first part of the conference focused on wealth tax and trust structures. Ákos Baráti, a partner at Jalsovszky, outlined the main features of the wealth tax: a threshold of HUF 1 billion, tax rates of 1% and 1.5%, and the inclusion of virtually all assets owned by private individuals. His presentation also covered the valuation methods applicable to individual asset classes, as well as the rules the Ministry intends to introduce to prevent tax avoidance. For example, anyone who made any changes to the ownership structure of their assets after the wealth tax proposal came to light, that is, after 14 May 2026, can expect to have to demonstrate that their actions were not motivated by an intention to avoid the wealth tax.

This was followed by a presentation from Péter Hosszú, a senior member of Jalsovszky Private, who highlighted the changes affecting the rules governing trust structures over recent years, with particular emphasis on the new measures introduced this August. The main conclusion was that trusts remain a highly advantageous tool for intergenerational wealth planning, from both a regulatory and a legal perspective. The discussion also covered how those who established their trust arrangements before 30 August 2026 should prepare for tax audits. The key advice was to gather existing documents and accounting reports and address any deficiencies before the National Tax and Customs Administration (NAV) arrives.

Following the break, the conference continued with a panel discussion hosted by Pál Jalsovszky, whose guests were Csaba László, university professor and former Minister of Finance; Elek Nagy, President of the Hungarian Chamber of Commerce and Industry; and Balázs Alexa, a start-up investor. Each participant assessed the expected impact of the wealth tax on investment in Hungary and domestic businesses from their own perspective. The discussion also raised the question of whether the same fiscal objective could have been achieved through a different regulatory approach. The audience also shared its views on what it expected from the wealth tax. The results showed that the wealth tax would influence the business decisions of 65% of participants, while only 25% of those in the audience felt that the legislation would take the true value of their businesses into account. It was also discussed that, in the view of the vast majority of participants and panellists, the wealth tax would remain in place for the entire government term.