Peter Magyar Must Come Clean: Parliament Approves Stricter Asset Disclosure Rules

At its Tuesday session, the Hungarian parliament voted on several proposals. Lawmakers approved a measure requiring Members of the European Parliament to submit asset declarations under Hungary’s strict rules. They also extended the state of emergency related to the war in Ukraine and approved the personal tax exemption of mothers.

Cover photo: Peter Magyar (Source: Hir TV)

Parliament voted to amend the law concerning Hungary’s response to the armed conflict and humanitarian disaster in the neighboring country, granting the government authority to extend the state of emergency until November 14.

Parliament votes to tighten asset declaration rules (Photo: MTI/Robert Hegedus)

 

Peter Magyar Must Come Clean

The National Assembly passed amendments to several laws concerning the asset declaration obligations of MEPs. The Fidesz–Christian Democrat (KDNP) initiative aims to ensure accountability and transparency regarding the financial situations of MEPs.

Hungary’s regulations are among the strictest in Europe. Although the Hungarian parliament had previously adopted the EU’s system in the name of integration, the old—now reintroduced—Hungarian system was reinstated at Brussels’ request, again in the name of European alignment.

In the future, Peter Magyar will have to come clean about his actual financial situation,

following allegations that raised the suspicion of insider trading against the Tisza Party chief.

A Red Light for Drugs

Parliament also adopted amendments related to the production, use, distribution, and promotion of drugs. According to the rationale behind the governing party’s proposal, the government has declared zero tolerance toward drugs. The spread of mind-altering substances poses a growing threat to an increasingly younger generation — including children. The goal is to eradicate the use, distribution, and promotion of illegal drugs and mind-altering substances altogether.

These legal amendments aim to create a more effective framework to combat drug trafficking, distribution, and consumption. They include stricter regulations concerning law enforcement and criminal procedures, as well as stronger protections for minors.

Supporting Hungarian Families

Parliament also voted on various family support measures and benefits for mothers. Beginning January 1, 2026, all mothers under the age of 30 will be eligible for tax exemption on employment income, regardless of the child’s date of birth or the mother's income level. Lawmakers also passed provisions exempting maternity benefits from personal income tax. This includes the infant care allowance (csed), the child care benefit (gyed), and the so-called adoption allowance, which serves a similar role as "csed" in cases of adoption. The aim is to strengthen the financial security of families with young children.

Parliament also decided to extend lifelong income tax exemption to mothers of two children, aligning their benefits with those already granted to mothers of three or more children. 

The tax benefit will be introduced in four stages depending on the mother’s age and will apply to all mothers with two children, starting from 2029.

No Energy Drinks for Under-18s

The National Assembly passed a bill aimed at protecting children’s health. Under the proposal submitted by KDNP lawmakers, it will be illegal to sell energy drinks to anyone under 18.

According to the justification, energy drink consumption shows a steady increase among those aged under 18. Recent surveys show that 

ten percent of high school and upper elementary school students consume energy drinks daily.

In recent years, there have been hundreds of cases where young people required medical attention due to excessive energy drink consumption.

 

An ATM in Every Small Town 

Lawmakers also approved a measure requiring at least one ATM to be installed in every settlement. The legislation also ensures that citizens can withdraw up to 150,000 forints in cash without fees or limitations, even in a single transaction. These new rules make cash access more favorable for residential consumers.

Cover photo: Peter Magyar (Source: Hir TV)