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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…
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