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Taxation

New Double Taxation Agreement Between Israel and Austria

After almost 50 years, a new double taxation agreement (DTA) for income and capital taxes was signed between Israel and Austria, which includes substantial tax relief.

April 10, 2018

Analysis: Vienna's 900 Years of Close Ties With Former Tax Haven Liechtenstein

Federal President Alexander Van der Bellen visited the Principality of Liechtenstein during a state visit to Vaduz. After 14 months, he has finally visited the last of Austria's neighbouring countries. The state was known as a tax haven until November 2013. The Liechtenstein tax affair and offshore leaks have contributed to the neighbouring country signing an international agreement to prevent tax evasion.

March 22, 2018

Austrian Oberbank Shines in Hungary

Austrian Oberbank bucks the trend of terminating business activity in Hungary. Instead, the financial institute plans on growing in one of the most difficult markets in Europe.

May 22, 2014

Fiat Intensifies Investments in Poland

As reported by Polish daily Puls Biznescu, Italian automotive manufacturer Fiat plans on lauching the production of a new series, similar to the so-called Punto.

May 9, 2014

Wesner: “Failing in Business Does Not Mean Personal Failure”

The start-up culture in Austria is clearly different than the one in the US. On the occation of the May Day, experts, including US ambassador to Austria Alexa Wesner, talked about the differences in the start-up scenes.

May 8, 2014

Austria Gives up Bank Secret for United States

Austria and the US have signed an agreement for the exchange of fiscal data. However, the agreement could be renewed soon.

April 30, 2014

Hypo Group Further Losses to Be Expected

Huge losses by the sale of the SEE banking network could be expected.

April 30, 2014

Spindelegger: “Arsonists Are to Blame Not Fire Brigade”

The downsizing of ailing bank Hypo Group Alpe Adria is a heavy burden for this year’s budget. According to Finance Minister Spindelegger, the deficit comes at 2.7 percent of GDP while public debts will soar.

April 29, 2014

Austrian Banking Sector Making Losses

For the first time in 2013, the Austrian banks made losses in the amount of € 1.035bn.

April 29, 2014

Austria: Is Spindelegger Suitable as Finance Minister?

On Tuesday the Austrian Finance Minister will hold his first budget speech. Initial figures reveal record debt levels.

April 28, 2014

Croatia Faces Radical Fisal Measures

The fiscal situation of the Balkan country and youngest EU member state is disastrous. The Croat government announced to introduce new taxes.

April 25, 2014

Do Taxes Justify a Relocation of Business?

Tax sensitive business operations should be relocated to other areas if necessary, according to the head of Erste Bank Austria.

April 24, 2014

Eder: Policy-Makers Have to Make Decisions

Wolfgang Eder, CEO of Austrian steel manufacturer voestalpine, claims not to have heard anything from the Austrian policy makers after he raised criticizm with regard to the Austrian business location.

April 24, 2014

Austria: Calls for Reduction of Bureaucracy Become Louder

Bureaucratic hurdles burden the Austrian enterprises the most apart from taxes and other levies.

April 23, 2014

Austrians Cautiously Observant

Despite economic recovery the Austrian citizens are still cautiously observant.

April 22, 2014

Poland: VAT Likely to be Reduced

As announced by Polish Finance Minister Mateusz Szczurek, the government plans on cutting the VAT rate to 22 percent in 2017.

April 22, 2014

Austria: RLB OÖ Still Threatening to Leave

According to managing director of Raiffeisenlandesbank Oberösterreich (RLB OÖ) Heinrich Schaller, the tax burden is too high in Austria. The bank is still threatening to leave for Germany if the bank levy will not be changed.

April 17, 2014

Poland: Excessive Deficit Procedure for Two More Years

The Polish government expects the EU Commission to cancel the Excessive Deficit Procedure in “less than two years” due to the measures applied so far the continuing of economic recovery.

April 16, 2014

Industrial Location Austria Losing Attractiveness

Among other things, labor costs and energy prices are too high, according to the Austrian Federation of Industries.

April 16, 2014

Slovakia as a Role Model?

In an interview with Austrian daily “Wirtschaftsblatt”, Tomas Malatinsky, Economy Minister of Slovakia, talked about budget discipline, investments and tax policy.

April 16, 2014

Serbia: “Radical Measures” Needed to Tackle Grey Economy

Experts call for higher penalties to make tax evasion and gray economy less profitable and establish financial discipline.

April 14, 2014

Poland: No Tax Hike Required

According to Poland’s Finance Minister, a tax increase is not required this year.

April 14, 2014

Austria: Tax Quota Grows Continuously

Austria is well on the way to reach the top of the high-tax countries. Last year, Austria´s tax quota on labor income has reached the highest in its history.

April 12, 2014

Raiffeisen Branch to Leave Austria?

One of the provincial units of Raiffeisen Group, regional lender Raiffeisen Landesbank Oberösterreich (RLB OÖ), is considering relocating its headquarters to Germany.

April 11, 2014

Vucic: “Not Afraid of Social Riots”

The future Prime Minister of Serbia underlined the necessity of reforms.

April 10, 2014

Erste Group to be Relocated to the Czech Republic?

CEO of Erste Group, Andreas Treichl, has informed Czech President Milos Zeman about the bank’s intention to move to Prague in the coming years.

April 9, 2014

Austria: Government Wants “Restrictive Budget Performance”

Today the Austrian government has decided upon a “restrictive budget performance.

April 8, 2014

Austria: Purchasing Power Shrinks

Due to higher taxes and social contributions, the real income fell in the last few years.

April 8, 2014

Serbia: Effective Measures for Economy

The Serbian Chamber of Commerce considers the measures for economic growth “a very big thing”.

April 7, 2014

Hungary: OTP Approaches Acquisition of MKB

MKB, the Hungarian loss-making affiliate of German regional lender BayernLB, is approaching its acquisition by the biggest lender OTP.

April 3, 2014

Austria: Dispute about Bank Tax Culminates

The establishing of a new fund for the banking union will become a financial burden for banking institutes.

April 3, 2014

Austria: Faymann Insists on Bank Levy

Chancellor Faymann intends to keep the bank levy in spite of the planned insolvency fund, which is going to be established EU-wide.

April 1, 2014

Romania: Key Interest Rate Remains Unchanged

The central bank of Romania has left the main interest rate unchanged.

March 31, 2014

Slovenia: Danger of Tax Increase

Because of the failed introduction of the property tax Finance Minister Uros Cufer suggested an inrease in VAT to compensate for the losses in revenue.

March 31, 2014

Austria: State Revenues Increased

In 2013 the Austrian budget deficit came at 1.5 percent of GDP wile public debts increased to 74.5 percent of GDP.

March 31, 2014

Slovenia: Controversial Property Tax Fails

The Slovenian Constitutional Court has rejected the controversial property tax suggested by the government. This will jeopardize this year’s budget.

March 28, 2014

Poland to Fulfill EU Commission’s Regulations

According to Polish Finance Minister Mateusz Szczurek, Poland will have no difficulties fullfilling the standards set by the European Commission with regard to the budget deficit.

March 27, 2014

Slovenia: Chaos around Real Estate Tax Continues

On Thursday the Slovenian National Assembley will pass amendments to the highly debated real estate tax.

March 27, 2014

Hungary: Orban Striving to Become PM Again

In an attempt to gain another four years as head of the government Hungarian Prime Minister Viktor Orban praises the country’s achievements in the past years since his Fidesz party came into power.

March 26, 2014

Austria: No Changes to Land Transfer Tax

There will be no tax hikes in the near future concerning the inheritance of property within families. The draft law of the Finance Ministry also includes the exemption of business successions.

March 24, 2014

Hypo Group: New Supervisory Board President

Herbert Walter becomes head of the nationalized Austrian Balkan lender Hypo Group Alpe Adria. According to Austrian Finance Minister Michael Spindelegger, Hypo Group needs even more capital injections.

March 24, 2014

Hypo Group: “Acutely Gaping Capital Hole“

In a compulsory notification published on Friday morning, Hypo Group Alpe Adria has reported about an “acutely gaping capital hole” which has to be covered by the Austrian Federation.

March 21, 2014

Slovenia: Exuberant Public Spendings

Public finances in Slovenia have gone wild as only after two months almost half of the total deficit planned for 2014 was spent.

March 20, 2014

Fitch: Elections Command Fiscal Consolidation and Reforms

Vucic appears to acknowledge the need for reforms in Serbia.

March 20, 2014

Austria: Reform Steps Very Modest

Austria, along with Germany and Switzerland, hardly put any economic reforms into realization. This is the conclusion of the annual “reform barometer” for the three countries.

March 20, 2014

Slovenia: Government Confirms Tax for Residential Property

The government has confirmed the changes adopted for the introduction of the real estate tax.

March 20, 2014

Hypo Group Expected to Publish Figures This Week

On Thursday the Austrian taxpayers are supposed to officially get to know the financial requirements for nationalized problem bank Hypo Group Alpe Adria.

March 19, 2014

Serbia: Economic Activity Increases Speed

Since the beginning of 2014 economic activity has started to accelerate.

March 19, 2014

Slovenia: Confusion over Real Estate Tax

The deadline for real estate owners to prepare for the new real estate tax has been extended by a month.

March 19, 2014

Wifo Warns European Council of Economic-Policy Standstill

The Austrian Institute of Economic Research sharply criticizes the current economic policy of the European Union and calls for a change of course to reach the self-defined targets.

March 19, 2014
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