Austria rose one place, to the 21st, in the ranking of the most liberal economies.
According to the presently Japanese Austria Tabak, 20% of cigarettes are already smuggled. The tobacco tax is expected to increase this trend even more.
The Chairman of the Austrian Provincial Governors’ Conference, Josef Pühringer, demands the introduction of a pan-European financial transactions tax.
WIFO Director: "Crisis was not Taken Advantage of to Introduce Reforms"
In an interview with the newspaper "Kurier", the head of the WIFO criticizes the lack of commitment to reforms. His perspectives for Austria are nevertheless optimistic.
The President of the Austrian Economic Chamber calls for more Government work in administration, health and education.
RLB Niederösterreich-Wien predicts a very good year for security investments and expects double-digit yields.
Corporate profits on one hand and reduced working hours, dismissals and wage cuts on the other, are not compatible for the Chamber of Labor.
As the economy developed relatively well this year relatively, tax revenues increased. The deficit for 2010 might therefore turn out to be lower than planned.
More Employees in Austria, Purchasing Power and Taxes Remain High.
Austria records an employment increase of 1.2%. Purchasing power and taxes are above the international average.
Austria banks and investment companies file a complaint before the Constitutional Court against the as of next year introduced tax on securities capital gains.
After weeks of discussions about the 2011Austrian Federal Budget, the final details were announced today. There are very few amendments to the original project.
In particular, legal uncertainty and abolished tax advantages cause the creation of fewer foundations in Austria.
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.
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".
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.
So far, the property transfer tax has been avoided by a relatively simple construct. The Finance Senate wants to close this legal gap now.
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.
Is the End of Private Foundations Near?
Legal uncertainties and higher taxes result in little incentive for the creation of new foundations.
Austrian Airlines are fearing a massive drop in sales and even see the tax as a threat to their existence.
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.
The budget includes a new austerity package, which consists essentially of taxes on mineral oil, tobacco and banks.