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Austrian Bank Tax Paid By Bank´s Customers

Politics ♦ Published: September 26, 2013; 21:23 ♦ (Vindobona)

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The Austrian Institute of Advanced Studies (IHS) reports that it is “likely” that banks shift the burden to their customers.

Austrian Bank Tax Paid By Bank´s Customers / Picture: © Vindobona.org

Due to the banking package resolved by the Austrian government, bank taxes were introduced in 2010. The Austrian bank tax is based on the size of total assets.

Initially, the tax intake came at € 500m. Due to the bail-out of VBAG, the tax intake was lifted to € 625m last year. The Austrian bank tax is limited until 2017. An extension of the bank tax is rather likely.…