The Hungarian government has proposed a wealth tax targeting individuals possessing assets exceeding one billion Hungarian forints (equivalent to $3.08 million USD). Prime Minister Peter Magyar announced the measure on Tuesday, fulfilling a key campaign promise made by the Tisza party. The center-right Tisza party recently achieved victory, leading to the implementation of this new tax policy. Details regarding the specific implementation and potential revenue generation were not immediately available. This tax aims to address wealth inequality and potentially fund government initiatives. The announcement follows growing discussions about fair taxation and economic policy within Hungary. This move represents a significant shift in Hungary’s fiscal approach.