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Austria: On Verge of Losing Business Attractiveness
Politics ♦
Published: January 15, 2014; 10:27 ♦ (Vindobona)
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The new tax package does not only burden car drivers and smokers but also the economy will have to contribute to the budget with several hundreds of millions of Euros annually.
Austria: On Verge of Losing Business Attractiveness / Picture: © Vindobona.org
Some of the impending tax burdens for the Austrian economy are group taxation and a restriction in the tax-free profit allowance for self-employed persons. Moreover, only up to € 500,000 in wages annually can be written off against tax.
Apart from a few exceptions, Austria has long ago stopped being attractive for businesses from a tax perspective. Infact, it can undoubtedly be…
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