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Taxation
Audit Court Criticizes Austrian Government Sharply
Josef Moser, president of the Austrian Audit Court, has sharply criticized the government’s resolution.
January 17, 2014
Bank Levy: Austrian Regional Banks Under High Pressure
The Austrian government will raise the bank levy significantly. Smaller banks have to perform disproportionately high taxes, Oberbank´s CEO Franz Gasselsberger says.
January 16, 2014
Austria: What Happened to the Budget Gap?
The question remains even after the government was confirmed and the first tax package presented.
January 16, 2014
Austria: On Verge of Losing Business Attractiveness
The new tax package does not only burden car drivers and smokers but also the economy will have to contribute to the budget with several hundreds of millions of Euros annually.
January 15, 2014
Austria: Distribution of Wealth Extremely Unequal
The top one percent of Austrian households possesses more than 50 percent of all investment income.
January 13, 2014
Serbia Facing Testing Year
The Serbian government is currently working on a plan to improve the competitiveness of domestic enterprises.
January 13, 2014
Austrian Budget Planning to be Completed in May
The six groups in the National Assembley have agreed to the parliamentary plan for the first half year of 2014.
January 13, 2014
Austria: Significant Increase in Bank Levy
In 2014, the bank levy is expected to increase substantially. Austrian banks regard the levy as massive competitive disadvantage.
January 10, 2014
Austria: Wifo Expert Calls for Structural Tax Reform
According to Wifo-expert Schratzenstaller, the planned tax burdens on tobacco and automobiles are “largely useful”.
January 10, 2014
Austria: First Tax Package to Be Presented
The Austrian government intends to present the first tax package tomorrow.
January 8, 2014
Slovenia: Calls for Reforms Become Louder
The Slovenian Chamber of Commerce (GZS) calls upon the government to accelerate the realization of reforms to boost economic growth.
January 8, 2014
Hungary Amending Figures of Budget Deficit
Hungarian Finance and Economy Minister Mihaly Varga announced that the budget deficit of 2013 will be below the target after it was lowered dramatically.
January 8, 2014
Hungary: Erste Group Confident
The third-largest lender in CESEE underlined that the Hungarian subsidiary will not be sold. The Austrian bank is confident to reach the turnaround soon.
January 6, 2014
First Offer for RBI´s Hungarian Subsidiary
The partly nationalized Hungarian lender Szechenyi Bank is interested in the Hungarian subsidiaries of the Austrian banks Erste Group and Raiffeisen Bank International.
January 6, 2014
European Savers in Danger
Already this year, savers in the Eurozone may fear a compulsory tax on deposits, the Danish Saxo Bank says.
January 4, 2014
Slovenia: More Resistance Against Real Estate Tax
On Friday a second petition was filed at the Constitutional Court against the property tax.
January 4, 2014
VBAG: Further State Aids Questionable
The governing Austrian social democrats (SPÖ) are against providing further funds to the partly nationalized banking group.
December 26, 2013
„No Debt-Backed Tax Reform“
Austrian Finance Minister Michael Spindelegger underlines that Austria has to put more effort into fiscal consolidation measures.
December 23, 2013
Austria: Rules for Bank Tax to Be Changed
The governing parties call for changes in the bank tax which would increase the burden of some Austrian banks.
December 20, 2013
Austria: Opening Balance Reveals Massive Mountain of Debt
Public debts exceed the federal assets by more than double the amount, as revealed by the opening balance published by outgoing Finance Minister Maria Fekter last weekend.
December 16, 2013
Poland: Budget Bill Approved by Lower House
On Friday, the Polish lower house Sejm approved next year’s budget bill which schedules the budget deficit of PLN 47.6bn not to be exceeded.
December 16, 2013
NBS: Moderate Rise in Inflation
Moderate rise of inflation expected by the National Bank of Serbia (NBS).
December 16, 2013
Austrian Banking Industry Has to Fear Bank Tax Increase
At the end of this week, the Austrian social democrats and the conservatives agreed on continuing their coalition. Although the fiscal strategy is not fully known yet, a bank tax increase is likely.
December 14, 2013
Austria: Spindelegger Replaces Fekter
The designated cabinet members were presented to the public today. Maria Fekter will not be a cabinet member anymore.
December 13, 2013
Leitl: No Alternative to Budget Consolidation
Christoph Leitl, President of the Austrian Chamber of Commerce (WKO), regards the coalition agreement between the Social Democrats (SPÖ) and the People’s Party (ÖVP) acceptable.
December 13, 2013
Austria´s Government: Old Turns into New
The leaders of the old government, Chancellor Werner Faymann and Deputy Chancellor Michael Spindelegger, announced to form a new government.
December 12, 2013
Czech Republic: New Government Confirmed
Seven weeks after the national elections, the Czech Social Democrats (CSSD) have agreed to form a coalition with ANO and the Christian Democrats (KDU-CSL).
December 11, 2013
Ten Capital Market Themes for 2014 by Raiffeisenbank
Leading indicators show a recovery of global growth.
December 11, 2013
Austria: Federation of Trade Unions Warns of Privatizations
The Austrian Federation of Trade Unions warns the Austrian state not to push through with further privatizations.
December 11, 2013
Hypo Group Alpe Adria: Liebscher Against Haircut
Klaus Liebscher, chairman of Hypo Group’s supervisory board, is strictly against a debt cut at the nationalized bank. He expects a decision about a bad bank only in the first quarter next year.
December 10, 2013
Leitl: Government Plans “Complete Nonsense“
According to Christoph Leitl, President of the Austrian Chamber of Commerce, the “great” suggestions planned by his working group are not realized by the government.
December 10, 2013
Austria: Tax Increases Contemplated by Government
During the coalition negotiations increases of taxes on tobacco and alcohol is currently considered by the Social Democrats (SPÖ) and the People’s Party (ÖVP).
December 9, 2013
OTP Interested in MKB
Sandor Csanyi, CEO of the largest Hungrian lender OTP, considers taking over the rival MKB.
December 9, 2013
UniCredit: Withdrawal from Hungary as Potential Option
UniCredit does not completely rule out a withdrawal from the Hungarian market in case further burdens will be imposed on banking institutes.
December 4, 2013
Faymann: Austrian State Finances are Stable
Chancellor Werner Faymann rejects the opposition’s claim that Austria is on its path to national bankruptcy.
December 3, 2013
Austria: President Presses for Progress in Coalition Negotiations
It has been two months after since the coalition negotiations started after the elections for the National Assembley. However, there has been not visible progress.
December 2, 2013
Austria: Tax Losses Amount to € 2bn in 2014
The Austrian People’s Party estimates tax losses in the amount of € 2bn for the coming fiscal year as announced by State Secretary for Foreign Affairs Reinhold Lopatka in an interview with radio station Ö1.
November 29, 2013
Bank Austria: Drastic Job Cut
The austerity measures at Bank Austria take form. CEO Willibald Cernko refers to the bank taxes.
November 28, 2013
Leitl: Growth Stimulating Measures for Budget Consolidation
Leitl calls for growth stimulating measures which are the basis for the consolidation of the Austrian budget.
November 28, 2013
Germany Claims Key Positions at EU Banking Regulator
The German federal government claims one key position in the European banking regulator.
November 28, 2013
Croatia: Milanovic Promises Economic Recovery
Prime Minister vows that Croatia's economy will be put on a sounder footing.
November 28, 2013
Serbia: Further Austerity Measures Probable
In October, Serbia´s government has resolved a drastic austerity package.
November 27, 2013
EU Financial Transaction Tax to Become a Flop?
Experts do not expect the financial transaction tax to become effective next year.
November 27, 2013
Poland: Szczurek Calls for Radical Tax Reform
Poland´s designated Minister of Finance Mateusz Szczurek wants the change the current Polish tax system fundamentally.
November 26, 2013
WKO: Better Framework Conditions for SMEs
Small and medium sized enterprises (SMEs), with between 10 to 249 persons employed, are a driver of the European economy, creating jobs and contributing to economic growth. WKO calls for better framework conditions for SMEs.
November 26, 2013
Austria: “Budget on Target“
State Secretary for Finance Andreas Schieder points out that “the figures from the Finance Ministry for the budget performance until October show that the budget 2013 is on target.” Social Minister Hundstorfer calls for reforms.
November 25, 2013
Faymann Calls for Sense of Proportion
Chancellor Faymann does not consider a drastic austerity package necessary.
November 25, 2013
Austria: Decent Economic Outlook
Despite an economic acceleration, the macro-economic frame conditions remain difficult in 2014. A major risk factor is the fiscal situation.
November 24, 2013
Czech Budget Deficit Shrinks
Despite the unfavorable macro-economic develoment, the Czech Republic´s budget deficit was down slightly. This is mainly due the the better tax collection, the Czech Statistical Office (CSU) reports.
November 23, 2013
Szczurek: EU Funds to Create Growth
Poland´s designated Minister of Finance Mateusz Szczurek explained that EU contributions will be used to support Polish GDP growth.
November 23, 2013
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