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Austrian Industrial Federation Wants Higher VAT

Comment › Opinion ♦ Published: November 23, 2012; 15:49 ♦ (Vindobona)

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Georg Kapsch, President of the Federation of Austrian Industries (I) calls for a VAT increase. The VAT rate remains unchanged at 20% of decades.

Austrian Industrial Federation Wants Higher VAT / Picture: © IV / Günther Peroutka

In order to reduce income taxes, the VAT rate should be lifted to 22%, Kapsch argues. Moreover, social contributions could be lowered. In the past, the Federation of Austrian Industries criticized very often that non-wage labor costs would be too high. However, an increase of the VAT rate by two percentage points would not be enough. Kapsch also wants to widen the income tax…