Constitutional Court: Bank Taxes in Line with Constitution

Politics ♦ Published: February 3, 2012; 20:02 ♦ (Vindobona)

A complaint over bank taxes by Austrian banks was disapproved. According to the court, banks were primarily responsible for the economic crisis.

Constitutional Court: Bank Taxes in Line with Constitution / Picture: © Vindobona.org

Bank taxes, which were introduced in 2011, do not violate the Austrian constitution. A complaint by Hypo Vorarlberg was disapproved by the Constitutional Court (VfGH). After extensive bank aids, which were a major burden for the public budget, cost sharing is legitimate. The court referred to the “special role” of banks regarding the economic crisis.

Hypo Vorarlberg argued…

Fast News Search