Bank Taxes: „Job Cuts or Price Increase”

People ♦ Published: January 17, 2011; 01:17 ♦ (Vindobona)

According to Michael Ikrath, bank representative of the “Sparkassen”, the new charges for Austrian banks are the highest in Europe.

Bank Taxes: „Job Cuts or Price Increase” / Picture: ©

All in all, the new burden for Erste Group/Sparkassen, such as the bank tax, investments for the new securities gains tax and the new deposit guarantee will amount to € 347m. Michael Ikrath, who acts as director of the “Sparkassen”-association, came to this result. Comparing to the operating profits in the third quarter 2010, this would mean a 40% tax…