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Austria: RLB OÖ Still Threatening to Leave

Published: April 17, 2014; 10:24 · (Vindobona)

According to managing director of Raiffeisenlandesbank Oberösterreich (RLB OÖ) Heinrich Schaller, the tax burden is too high in Austria. The bank is still threatening to leave for Germany if the bank levy will not be changed.

RLB demands a cut in taxes. / Picture: © Raiffeisen Bank

On Wednesday RLB OÖ held its annual press conference in Vienna for the first time where managing director Schaller demanded the taxes for banks to be reduced.

Last year net profits of the regional lender increased by 72.5 percent to € 163.5m. Taxes came at € 17.9m, which is considered too high by the bank. According to Schaller, RLB OÖ only had to pay € 5m in bank taxes…

This article includes a total of 196 words.

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