Taxation

Austrian Government Resolves Austerity Package

Speculation terms on real estate will be abolished, the tax privilege on 13th and 14th salary too. Inheritance taxes or enrollment fees will not be re-introduced.

February 9, 2012

Austerity Package Takes Form

Although negotiations over the austerity package are not finished, first details are already known.

February 7, 2012

Sorger „Focusing on Business Location“

The President of the Federation of Austrian Industries, Veit Sorger, reaffirmed the strengthen Austria´s economic competitiveness.

February 4, 2012

Constitutional Court: Bank Taxes in Line with Constitution

A complaint over bank taxes by Austrian banks was disapproved. According to the court, banks were primarily responsible for the economic crisis.

February 3, 2012

Central-Upper Austria Overtakes Vienna in GDP per Capita

The urban Upper Austrian region Linz-Wels has the highest GDP per capita in Austria. Vienna ranks second.

January 31, 2012

Austerity: ÖVP Becomes Impatient

Negotiations between the coalition partners SPÖ and ÖVP are going on. ÖVP´s chairman Spindelegger locates an “incredibly big need of consolidation”.

January 31, 2012

FPÖ Wants Cuts in Spendings

The biggest Austrian opposition party suggests reducing public expenditures in order to reduce the budget deficit. Chairman Strache calls for a “subsidy brake”.

January 30, 2012

Felderer Attacks Austrian Government

The head of the Austrian Institute of Advanced Studies fiercely criticizes Austrian politicians. Felderer claims to put effort in the restructuring of public finance.

January 30, 2012

New Tax Burden for Telekom Austria

Telekom Austria has to pay tax on mobile network services in Croatia.

January 30, 2012

Budget Deficit Lower Than Forecasted

The Austrian budget deficit in 2011 reached 3.3%. Initially, the figure was expected to amount to 3.9%.

January 27, 2012

Strache Claims Cut in Subsidies

The chairman of the Austrian opposition party FPÖ criticized the government fiercely for its fiscal policy.

January 23, 2012

Austerity: Unions Versus Industrialists

The Austrian trade unions want to impose property taxes, the Federation of Austrian Industries seeks cuts in spending.

January 21, 2012

Government to Sharpen Austerity Measures

After the downgrade of Austrian sovereign bonds from „AAA“ to „AA+“ by S&P, the Austrian government aims to reach its austerity targets earlier.

January 17, 2012

Downgrade: Government Surprised and Criticized

For the Austrian government, the downgrade by the U.S. rating agency is „not comprehensible”. The domestic industry urgently claims structural reforms.

January 14, 2012

Telekom Austria Faces New Taxes in Croatia

Croatia re-introduces extraordinary taxes for telecommunication operators. The local government is criticized by Telekom Austria and the EU.

January 13, 2012

„Vienna Is One of the Most Undervalued Stock Exchange in the World“

According to the investment funds manager Alois Wögerbauer, Vienna has a huge upside potential.

January 12, 2012

Austrian Wage Tax Intake Grows

The Austrian wage tax volume totaled 21.6bn in 2010. Gross wages were up by 2.5%.

January 11, 2012

ÖVP Does Not Exclude New Taxes Anymore

Against previous statements, the head of the Austrian conservatives, Michael Spindelegger, considers to introduce new taxes.

January 9, 2012

„Not Talking Down Austerity Policy“

Bernhard Felderer, head of the Austrian Institute of Advanced Studies (IHS), warns daily issued ideas for new taxes. First signs of a recovery are arising.

January 7, 2012

Austerity Package: Business Association Warns of New Taxes

New taxes would be an “attack against the economy”, general secretary Peter Haubner says.

January 4, 2012

Worsening Economic Outlook for 2012

Economists and analysts expect a massive fall in Austrian economic growth for 2012.

January 4, 2012

Government: Different Opinions on Taxation

The social democrats want to re-introduce the inheritance tax. The people´s party plans to raise tax quotas for the 13th and 14th salary.

January 3, 2012

Industry Wants to Suspend Banking Tax

The new capital requirements for banks are criticized by the Federation of Austrian Industries and the research institute WIFO.

December 29, 2011

Austrian Government Wants to Save € 10bn

The coalition partners agreed to cut expenses by € 2.0bn per year until 2016. Details were not published.

December 27, 2011

Felderer Expects Structural Changes

The head of the public debt committee, Bernhard Felderer says that new taxes are inevitable.

December 20, 2011

Tax Returns Take 170 Hours

In order to settle their tax duties, Austrian companies have to take much time compared to other EU members.

December 13, 2011

Austerity Measures or New Taxes?

The Austrian government has to reduce its deficits, after having announced the “debt break”. The social democrats call for property taxes.

November 19, 2011

„Debt Brake“ for Austrian Government

As the Austrian government fears a downgrade of its rating, the coalition partners agreed to install a „debt break“. Reactions are ambiguous.

November 15, 2011

Austria’s Tax Revenues 7.6% Higher than in 2010

The state’s total revenue was up by 8.2%, while expenditures increased by only 1.08% in the period January to September.

November 11, 2011

Orban Attacks Austrian Banks

The Hungarian Prime Minister Viktor Orban wants to release his country from the “debt slavery” and criticizes Austria´s reactions.

October 29, 2011

Croatian Parliament Abolishes 6% Mobile Service Tax

The local subsidiary of Telekom Austria benefits from the abolition of the special tax which caused expenses of € 15.2m in 2010.

October 28, 2011

WIFO Alarms: Petrol Price Has to Increase

The petrol price should be increased annually by six percent. Tobacco should be more expensive as well, claims WIFO’s (Austrian Institute of Economic Research) head Karl Aiginger. However, taxes on labor should fall.

October 24, 2011

WIFO Claims Property Tax

Karl Aiginger, CEO of the Austrian Institute of Economic Research calls for a significant increase in taxation of real estate and fuel.

October 24, 2011

€ 2.7bn Profits Due to Rededications

According to a new study by Kreutzer, Fischer & Partner, 280km2 of agricultural area were rededicated into building area from 2007-2011. Yearly profits therefrom amount to € 2.7bn.

October 10, 2011

Austrian Government: Sharp Critics from Industrialists

The Federation of Austrian Industries (IV) attacks the government massively. For the industrialists, the new taxation plans are not acceptable.

October 8, 2011

Ranking: Austria Among the Most Non-Transparent Financial Centers Worldwide

Today, the Financial Secrecy Index (FSI) of the Tax Justice Network (TJN) has been published. 73 countries have been analyzed.

October 4, 2011

Mitterlehner: „Settlement of Headquarters Key Question for Austria“

The Austrian Minister of Economics, Reinhold Mitterlehner, wants to push the development of the domestic location through improving framework requirements steadily.

October 4, 2011

Austrian Competitiveness Shrinks Further

According to a market survey of the consulting group Ernst & Young, Austria´s international competitiveness has still worsened and fell from rank 18 to 19.

September 7, 2011

Federation of Austrian Industries: “No New Taxes!”

The debate about the introduction of property taxes in continues. The Institute of Economic Research (WIFO) approves such taxes.

September 6, 2011

Property Tax : € 25.000 for Every Rich Person?

The Austrian Socialist Party (SPÖ) claims to introduce property taxes. About 80.000 people in Austria would be concerned.

September 5, 2011

Significant Decline in Stock Exchange Turnover

Trading volume at the Vienna Stock Exchange has fallen dramatically in the first half of the year. The negative development is blamed on the capital gains tax on securities.

July 5, 2011

Profit Situation of Austrian Banks Improved Significantly

The banks recorded a positive development in the first quarter. However, net profits of the full year will fall as a result of the newly introduced bank tax.

June 27, 2011

Constitutional Court Cancels Starting Date of New Capital Gains Tax

The Court has no objections to the new capital gains tax itself. Only the starting date for automatic collection by the banks was declared unconstitutional.

June 24, 2011

Almost One Million Shareholders in Austria

Compared internationally, the Austrian population has a very low interest in the stock market. Only 13% invest in shares or funds.

June 21, 2011

Massive Drop in Trading at the Vienna Stock Exchange

Trading volume slumped by 42% to € 4.4bn as a result of the new capital gains tax on securities. The proportion of Austrian investors fell to 26%.

June 9, 2011

Austria's Labor Costs above EU Average

An hour of work costs an Austrian employer an average € 28.00 - six euro more than the EU average.

April 13, 2011

Saving in Austria Decreases

According to Statistics Austria, Household saving rate down to 9.1% in 2010.

April 7, 2011

Manufacturing Industry Sharply Criticizes the Union

Employees' proposals are not very productive, the Austrian Industrial Association says. There is no shift from wages toward corporate profits.

March 22, 2011

WKÖ: No EU Interference in Tariff Negotiations

The President of the Austrian Economic Chamber expects no interference from Brussels in domestic collective agreement negotiations.

March 22, 2011

Ikrath: "Bank Tax Should Fall in 2012"

Once the proposed bank rescue fund is set up, there should be no more national bank tax, says Michael Ikrath from the Sparkassenverband (Savings Banks Association).

March 19, 2011
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