Bank Tax: Constitutional Concerns

Politics ♦ Published: November 8, 2010; 10:33 ♦ (Vindobona)

Banks are to contribute a fixed tax amount based on the values given for 2010 for three years. Constitutional jurists consider this modus operandi as "highly questionable".

Bank Tax: Constitutional Concerns / Picture: ©

Starting in 2011, 500 million euro yearly are to be contributed by the banks, based on their balance sheets for the year 2010, without taking into account the evolution of the following years.

Finance Minister Pröll argues that the fixed amount of the bank tax has the virtue of allowing for better budgetary planning and the prevention of evasion possibilities.