Movable assets and wealth tax
Personal use, value thresholds and business use would influence the treatment of movable property.
Based on the supplied draft. The rules described have not been verified as effective law; the final provisions may change.
Personal use and exceptions
Section 6(3) would generally exclude personal-use items and usual household furnishings, except artworks, collections and jewellery individually worth more than HUF 3 million, and vehicles individually worth more than HUF 10 million. These asset-level rules do not replace the HUF 1 billion net-wealth threshold.
Business use and market value
Under section 6(4), movable property used for or connected with sole-trader or agricultural activity, or included in expense claims, would count at its full value. Section 20 would require documented market valuation. Collections would be valued together; replacement insurance value alone would not suffice.
Valuation evidence
Documentation would need to permit later verification. Vehicle condition, mileage and equipment could be relevant value factors.
- purchase evidence, identification and condition
- verifiable market or auction comparison data
- expert valuation and details of use
Frequently asked questions
Would every personal item be taxable?
No. Section 6(3) would generally exclude personal-use items and usual furnishings, except the specified high-value artworks, collections, jewellery and vehicles.
Would a collection be valued item by item?
Section 20 would require a collection to be valued together, rather than as separate individual movable assets.
Open draft (Hungarian)