Austria: Tax Losses Amount to € 2bn in 2014

People ♦ Published: November 29, 2013; 09:14 ♦ (Vindobona)

The Austrian People’s Party estimates tax losses in the amount of € 2bn for the coming fiscal year as announced by State Secretary for Foreign Affairs Reinhold Lopatka in an interview with radio station Ö1.

Austria: Tax Losses Amount to € 2bn in 2014 / Picture: © Flickr / The Austrian Foreign Ministry

The financial transaction tax, which was urgently craved by the Austrian government, will not be introduced in 2014 already. However, according to State Secretary Lopatka this is not the only bad news since the low interest rates have a negative impact on the capital gains tax where losses will amount to € 500m. Furthermore, there will be losses in the same amount in revenues from…