The Tisza government in Hungary unveiled detailed plans for a wealth tax on Tuesday, initiating a period of public consultation. The proposal aims to increase taxes for the wealthiest individuals, exceeding previous estimates, and to curb the practice of concealing assets abroad. However, analysts suggest the new tax could prove burdensome for many medium-sized businesses operating within Hungary. The plan intends to close loopholes but also risks creating further economic problems. Further debate is expected regarding the impact on investment and capital flight from Hungary. The government hopes the measure will address wealth inequality and increase state revenue. The proposal’s final form will depend on the feedback received during the consultation period.