Real Estate Sales: Tax Evasion is Probably Tilted

Politics ♦ Published: November 3, 2010; 12:42 ♦ (Vindobona)

So far, the property transfer tax has been avoided by a relatively simple construct. The Finance Senate wants to close this legal gap now.

Real Estate Sales: Tax Evasion is Probably Tilted / Picture: © Vindobona.org

If real estate is purchased in Austria, a property transfer tax equal to 3.5% of the purchase price less the assumed charges is applied. A registration fee of 1% has to be considered also. This relatively high tax burden has so far been bypassed by selling real estate through a limited liability company into which the property was previously introduced. Even though there are taxes to…

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