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Bank Levy: Austrian Regional Banks Under High Pressure

Published: January 16, 2014; 23:43 · (Vindobona)

The Austrian government will raise the bank levy significantly. Smaller banks have to perform disproportionately high taxes, Oberbank´s CEO Franz Gasselsberger says.

Since 2010, the Austrian banking sector has to perform extraordinary taxes. Due to the partial nationalization of VBAG in spring 2013, the bank tax was raised from EUR 500m to EUR 625m. In 2014, the total bank levy is expected to reach about € 700m.

In the next weeks, the Austrian government will develop a new calculation model for the bank…

This article includes a total of 428 words.

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