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Taxation
Serbia´s National Bank Fights Against Inflation
Today, the Serbian National Bank raised the base rate from 10.50% to 10.75%. IMF has lowered the economic outlook for Serbia.
October 9, 2012
Financial Transaction Tax to be Introduced
Now, the financial transaction tax has enough supporters. After months of negotiations, eleven EU member countries finally agreed on introducing a financial transaction tax.
October 9, 2012
Flat Tax in Austria?
The Austrian opposition party presented a “fair tax” model. The other parties criticized the proposal fiercely.
October 6, 2012
Support for Financial Transaction Tax Keeps Within Limits
In order to introduce the tax, nine countries must agree thereon. The time pressure is growing.
October 6, 2012
New Austerity Package in Hungary
In order to cut the budget defict below 3.0% of GDP in 2013, the Hungarian government plans further cuts and tax increases.
October 5, 2012
Austrian Socialists Call for New Taxes
The governing SPÖ wants to introduce new property and inheritance taxes.
October 4, 2012
Austria: Tax Fraud on the Rise
VAT evasion will come at € 2.3bn year, experts say. This is an increase by 5%.
October 3, 2012
Slovakia Abolishes Flat Tax
Because of the austerity pressure, Slovakia gives up its flat tax. The corporation income tax rate increases to 23% from 19%.
October 3, 2012
Austria Shows Growing Inequality in Wealth Distribution
According to a study of OeNB (Austrian National Bank), the 3,77 million Austrian households have assets of € 265,033 on average. Median assets reach € 76,445.
October 2, 2012
Tax Deal with Switzerland: No Referendum
The opponents of the treaty between Austria and Switzerland could not collect enough votes. About 47,500 signatures could be collected.
October 2, 2012
Financial Transaction Tax: Austrian Government Under Pressure
In its last austerity package, the Austrian government has anticipated a financial transaction tax to be introduced in 2014. The time pressure is growing.
October 2, 2012
Serbia to Grow in 2013
The Serbian economist Jurij Bajec explained that the Serbian economy will recover next year. Real GDP growth will reach 2.0%, he says.
October 1, 2012
Fekter Promotes Financial Transaction Tax
The Austrian Minister of Finance wrote a letter to the EU Commission. She argues that a financial transaction tax would be economically reasonable.
October 1, 2012
Bank Secret: Semeta Criticizes Austria´s Position
According to the EU Commissioner Algirdas Semeta, Austria´s bank secret is “out-dated”. He criticizes that Austria and Luxembourg still reject to give up the bank secret.
October 1, 2012
Hungary Prohibits Slot Machines
According to Hungary´s Prime Minister Viktor Orban, the national security would be endangered.
October 1, 2012
Fekter Against Property Taxes
The Austrian Minister of Finance Maria Fekter (ÖVP) would support an income tax reform. Property taxes would not be acceptable, she says.
September 29, 2012
Stronach Calls For 25% Flat Tax
The Austrian industrial and new party leader Frank Stronach wants a radical tax reform.
September 29, 2012
Serbia Expects Rising Tax Intake
In order to meet demands of IMF, the Serbian Parliament approved the revised 2012 budget. The tax intake will not solve the country´s problems, economists consider.
September 29, 2012
Czech Deficit in 2013 at 2.9% of GDP
The Czech Government presented the budget bill for 2013. The Maastricht Criteria should be fulfilled.
September 29, 2012
Stronach Founds New Party: „Historical Event“
The former CEO of the Canadian automotive group Magna has presented his new party “Team Stronach” today.
September 27, 2012
Austrian Tax Deal with Switzerland Wobbles
The citizens´ movement in Switzerland has collected enough signatures in order to hold a popular vote on the tax deal with Austria.
September 25, 2012
Public Debt: New EU Members Are More Flexible
Compared to old EU member states, the new member states have more fiscal leeway to overcome the crisis.
September 24, 2012
Austrian Business Profits Grow Stronger than Salaries
The Austrian Chamber of Labor (AK) analyzed 110 companies. In the last ten years, workers lost € 13,000 per head on average, AK says.
September 22, 2012
Austrian Industry Claims Tax Cut
The Federation of Austrian Industries (IV) wants a tax relief. In the coming years, the tax quota should be reduced to 38%.
September 20, 2012
IMF-Loan: Orban Demonstrates Optimism
According to Hungary´s Prime Minister Viktor Orban, the negotiations with IMF are proceeding on schedule.
September 18, 2012
Faymann Demands Property and Inheritance Tax
Austria´s Chancellor Werner Faymann calls for a re-introduction of a property and inheritance tax.
September 17, 2012
Hungary Becomes Tax Haven for Czech and Slovak Enterprises
In the last three years, the number of Czech enterprises with head office in Hungary was up by 41%.
September 15, 2012
Czech Public Debt Growing Rapidly
Until the end of the year, public debt is expected to increase to € 63.77bn. At the end of 2011, the public debt level came at € 58.5bn.
September 14, 2012
Infringement Proceedings Against Hungary?
The Commission of the European Union is said to start infringement proceedings against Hungary because of the introduction of financial transaction taxes.
September 13, 2012
VAT Dispute: Necas Seeks Compromise
The Czech Prime Minister Petr Necas is optimistic that the instable government will survive. He wants to reach a compromise with the dissenters.
September 13, 2012
Hungary: Difficult Negotiations with IMF
The relation between Hungary´s Prime Minister and IMF is chronically tensioned. Another delay of the conclusions of the negotiations is likely.
September 12, 2012
Serbia Lifts VAT Rate
In order to prevent the national bankruptcy, the Serbian government raises the VAT by two percentage points.
September 11, 2012
World Economic Forum: Slovakia´s Performance Worsens
According to the World Economic Forum Competitiveness Report, Slovakia´s competitiveness slipped again.
September 10, 2012
Hungary: Bank Tax Intake Lower than Expected
The bank tax proceeds only reach 40% of the planned volume.
September 10, 2012
Austerity Package: Czech Government Asks for Vote of Confidence
After the austerity package was disapproved by the Czech Parliament, the government resubmits the bill to the Chamber of Deputies.
September 10, 2012
Austrian Chamber of Labor: Loss in Real Income at 1.5%
Between 2000 and 2010, the average inflation and tax-adjusted net income was down by 1.5% in Austria, AK (Austrian Chamber of Labor) says.
September 5, 2012
World Economic Forum: Austrian Competitiveness Moves Up
In the World Economic Forum Competitiveness Ranking, Austria ranks 16th and could move up three places. The public debt quota, the tax quota and the investor protection are the main weaknesses of Austria.
September 5, 2012
Bad Times for Vienna Stock Exchange
Compared to August 2011, stock turnover fell by 66% last month. Turnover only reached € 2.3bn.
September 4, 2012
Czech VAT Increase to be Resolved
The Czech government wants to increase the tax intake by € 1.0bn. Economists warn of a deepening of the recession.
September 4, 2012
Slovenia: “Danger for Austrian Banks is Limited”
Although Austria would be most affected by a Slovenian national bankruptcy, the likeliness of this scenario is rather low, analysts say.
September 3, 2012
Debt Crisis: “Somebody Will Have to Pay”
European Forum Alpbach 2012: Andreas Treichl, CEO of Erste Group thinks that the internationalization of the banking industry cannot be reversed. According to Treichl, the European citizens will have to pay for the crisis.
August 30, 2012
Fekter in Favour of Mechanism for Excluding Countries from Eurozone
Austria´s Finance Minister Maria Fekter: “It will take time to implement”. Fekter wants to address countries which constantly create financial burdens for other member states.
August 30, 2012
Faymann Against Breaking Up the Eurozone (Part 2)
At the Alpbach Economic Symposium 2012, Austria´s Federal Chancellor Werner Faymann underlines the “advantages of the EU”. Without the euro, Austria would face a dramatic recession, he warns.
August 30, 2012
Fekter Wants Tax Reform
In an interview with the Austrian newspaper „Presse“, Finance Minister Maria Fekter said to plan a tax reform. The entry tax rate should be lowered.
August 29, 2012
No Leeway for Wage Tax Reduction
Austrian social democrats call for a relief of medium-income earners. Finance Minister Maria Fekter opposes to this idea.
August 27, 2012
New Property Tax in Croatia
Slavko Linic, Finance Minister of Croatia, confirmed that Croatia will introduce a property tax in 2013. There would be no need for an IMF loan, Linic argues.
August 21, 2012
Czech VAT to Increase
In order to increase public revenues, the Czech government may increase value added taxes.
August 21, 2012
Switzerland: „Austrian Tax Deal Will Withstand“
The Swiss Parliament´s President Hans Altherr thinks that the Swiss tax deal with Austria will withstand a popular vote.
August 16, 2012
Hungary Faces Recession Again
In the second quarter of 2012, Hungary´s GDP was dwon by 0.2%. The decrease in exports is the main reason.
August 16, 2012
Slovakia Fights Against Budget Deficit
In order to comply with the EU Stability Pact, Slovakia needs to cut public expenses by € 630m.
August 16, 2012
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