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Taxation

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

Tax Revenue from the Tyrolean Industry is Picking up Strongly

IV (Industrialists Association) President Schretter said: "The manufacturing industry contributes hugely to prosperity; no new burdens for our companies, the costs of green electricity are an enormous burden"

March 15, 2011

Leitl Favors EU Financial Transaction Tax

The President of the Austrian Economic Chamber says: "The EU Parliamen has taken an important step towards EU financial transaction tax"

March 10, 2011

Gastronomy Rejects New Beverage Tax

Austria's restaurateurs and brewers fear an "attack on tourism and restaurant culture."

March 9, 2011

Sales Declining at Spar Hungary

The food trade chain records declining sales in Hungary - for the first time in its history.

March 4, 2011

FPÖ Intends to Establish Itself as an Economic Party

In an interview with the "Wirtschaftsblatt", FPÖ chairman Heinz-Christian Strache says that the party wishes to address entrepreneurs more strongly in future.

March 3, 2011

Leitl Fears Falling Back behind Asia

During a state visit to Singapore the President of the Austrian Economic Chamber (WKÖ) again urges the Austrian government to undertake reforms.

February 24, 2011

Bank Tax is "untimely" for ÖVAG

The Austrian Volksbank Group's CEO, Gerald Wenzel, expects expenditure of € 40m due to the bank tax.

February 8, 2011

Austria's Credit Industry Appeals to the Constitutional Court

The price gains tax introduced as of January 1, 2011 encounters legal resistance. The Banking Division of the Chamber of Commerce announced a complaint of unconstitutionality.

February 2, 2011

Hypo Upper Austria Reports stable Profits

According to the management, the regional bank could exceed its own expectations. Annual profit was € 27m.

February 1, 2011

Austria's Budget Deficit is at 4.1%

Although the budget deficit is lower than expected, but the official national debt could increase considerably due to the ÖBB.

February 1, 2011

Austria's Growth Remains Dependent on Exports

The Austrian GDP will grow in real terms, according to WIFO, at an annual average of 2.2% per year between 2011-2015. The unemployment rate is expected to stagnate.

January 25, 2011

Austria's AAA Credit Rating Confirmed

The U.S. rating agency Moody's confirms the Republic of Austria’s Triple-A rating. The outlook remains "stable".

January 21, 2011

Viennese Economic Chamber Demands Tax Relief for SMEs

The President of the Viennese Economic Chamber, Brigitte Jank, presents a three-stage relief model for small and medium-sized enterprises.

January 20, 2011

Tax Treaty between Austria and Germany

Austria and Germany sign a revision protocol on double taxation agreements to implement the OECD standards of transparency and effective exchange of information.

January 19, 2011

Demand to Unburden Business Founders

The Austrian Economic Chamber demands the creation of tax and corporate law unburdening for company founders.

January 19, 2011

Reform Backlog Prevents Austria Being a Success Model

The chairman of the WIFO, Karl Aiginger considers that Austria’s future capital has been gambled away because of lack of reforms. The EU, however, is "not on track" either.

January 19, 2011

Hungary: Calls for Boycotts against Foreign Companies in Hungary

A Hungarian initiative demands that 13 foreign companies be boycotted, including Austrian OMV

January 18, 2011

Federation of Trade Unions Calls for "Tax Justice"

A new debate is sparking off in Austria, and possibly also a tax reform. The Gewerkschaftsbund (ÖGB, Federation of Trade Unions) wants workers to be tax-unburdened.

January 18, 2011

Bank Taxes: „Job Cuts or Price Increase”

According to Michael Ikrath, bank representative of the “Sparkassen”, the new charges for Austrian banks are the highest in Europe.

January 17, 2011
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