Taxation

Austria´s Economy: Recovery Accelerates

According to the Report of Bank Austria “Austria´s Economy”, GDP increases stronger than expected. The labor market experiences some weaknesses.

November 15, 2010

Erste Group: Job Reduction in Hungary

The Austrian bank plans to cut 250 jobs in Hungary. Reasons are the bad loans and the introduction of the bank tax.

November 11, 2010

Sharp decline in Creation of New Foundations

In particular, legal uncertainty and abolished tax advantages cause the creation of fewer foundations in Austria.

November 10, 2010

Bank Boss Confirms: Bank Tax will be Passed on to Customers

Massive criticism of the federal government is also coming now from the boss of Raiffeisen Zentralbank (RZB). Bank customers will have to bear both the bank tax and the securities tax.

November 8, 2010

Bank Tax: Constitutional Concerns

Banks are to contribute a fixed tax amount based on the values given for 2010 for three years. Constitutional jurists consider this modus operandi as "highly questionable".

November 8, 2010

AUA: Massive Criticism of Government

Owing to the flight ticket tax one feels lied to by the politicians. Contrary to promises, there is no support for restructuring. Not even Vienna Airport is immune from criticism.

November 4, 2010

Real Estate Sales: Tax Evasion is Probably Tilted

So far, the property transfer tax has been avoided by a relatively simple construct. The Finance Senate wants to close this legal gap now.

November 3, 2010

Lauda is Evaluating whether to Move From Vienna

The owner and CEO of the Austrian low-cost airline Flyniki is considering a withdrawal from Austria. He is very upset over the tax on airline tickets to be implemented on January 1, 2001.

November 2, 2010

Bank Tax: Only 185 Million Remain for the Federation

In negotiations with the provinces, the federal government surprisingly yields to pressures: proceeds from the bank tax will be divided.

October 29, 2010

Tax on Securities’ Profits: Financial Industry in a Rage

The tax is targeted at the middle class, but it means especially an administrative burden and creates competitive disadvantages, according to the industry.

October 28, 2010

Bank Tax: 0.055% Instead of 0.04%

The new "stability tax" has been increased slightly. A tax on derivative transactions will also be applied. The tax will however not be temporary.

October 28, 2010

Is the End of Private Foundations Near?

Legal uncertainties and higher taxes result in little incentive for the creation of new foundations.

October 27, 2010

Bank Tax: Demands for Time Limit Becoming Louder

Financial politicians and banking representatives already argue before approval of the draft law, if the bank tax to be introduced in 2011 is going to have a time limit.

October 27, 2010

AUA: Outrage at Ticket Tax

Austrian Airlines are fearing a massive drop in sales and even see the tax as a threat to their existence.

October 25, 2010

New Budget: Details and Reactions

The entire tax package will bring additional revenues for around 1.2 billion euro. There are further saving measures for 1.6 billion euro. Reactions from the economic actors are ambivalent.

October 25, 2010

New Budget, New Taxes

The budget includes a new austerity package, which consists essentially of taxes on mineral oil, tobacco and banks.

October 25, 2010

Bank Austria CEO Cernko: No More Bank Tax Soon

Due to Basel III, location reasons and to safeguard jobs, the bank tax will only be effective temporarily, according to Cernko

October 22, 2010

Raiffeisen CEO Stepic: The Crisis in Eastern Europe is Not Over Yet

The RBI boss explains why recovery is taking longer, why his institute does not want to pay back the state capital yet, and why he considers that Raiffeisen is being treated unfairly.

October 22, 2010

Increase in Mineral Oil Tax likely

Economy Minister Mitterlehner speaks of a possible moderate increase.

October 21, 2010

Tax Evaders Targeted by the Ministers of Finance

Budget problems plague the majority of EU countries. In addition to budget discipline, the prosecution of tax evaders is to be addressed.

October 18, 2010

Slight Fall in Corporate Tax

On the other hand, indirect taxes experienced an increasing trend. Despite tax competition, tax increases are expected due to budget needs.

October 18, 2010

WIFO-Boss Aiginger Calls Government for Economization

Aiginger claims for reforms in the tax system

October 17, 2010

Property Tax is Not Unconstitutional

Property tax is constitutionally unobjectionable; concerns about unit values for calculation of income tax for foundations are however maintained for now.

October 15, 2010

Higher Tolls for Trucks Likely

Higher toll rates in the EU countries are likely due to noise, air and traffic disturbances.

October 15, 2010

Mineral Oil Tax: A Cash Cow for the Finance Minister

State revenues for the mineral oil tax have risen steadily since 2000. At that time, motorists paid 2.726 billion euro; this year it will be 3.9 billion euro.

October 15, 2010

CEOs of Stock Exchange Alert: Vienna´s Taxation Plans Cast Investors out

The heads of Vienna´s stock exchange, Schaller and Bohl, fear that the introduction of capital and transactional taxes downgrades Austria´s capital market.

October 14, 2010

Taxand opens CEE headquarter in Vienna

Taxand, a global organization of tax advisory firms, welcomed Taxand Austria to its fold. Each firm in each country is a separate and independent legal entity responsible for delivering client services.

October 1, 2010

Federal loans increased to 1.32b

The Austrian taxpayers will be pleased: The federal government has been able to borrowing loans for extremely favourable terms. The 3.9-percent government bond (from 2005 to 2020) was increased by € 770m ($972.02) to an average yield increase of 3.008 per

July 6, 2010
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