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Austria's Credit Industry Appeals to the Constitutional Court

Politics ♦ Published: February 2, 2011; 00:01 ♦ (Vindobona)

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The price gains tax introduced as of January 1, 2011 encounters legal resistance. The Banking Division of the Chamber of Commerce announced a complaint of unconstitutionality.

Austria's Credit Industry Appeals to the Constitutional Court / Picture: © Vindobona.org

"After careful consideration, the entire Austrian credit industry is now submitting an appeal to the Constitutional Court for the review of the price gains tax published on the penultimate day of 2010, but already in force since January 1, 2011. All sectors of the credit industry are involved in this action in common. The reason is that a profound analysis has shown the unfeasibility of…