Austria has no revenue problem – frivolous calls for wealth taxes create uncertainty – snooping taxes create transparent citizens & are a bureaucratic nightmare
Vienna (OTS) – Simply calling for more wealth taxes does not secure the welfare state. Quite the opposite: the demand for new duties and taxes – with one of the highest tax and duty rates of 43.2 percent – is damaging the location and creating even more uncertainty for people and companies. In view of the current situation and the fact that Austria is already a country with the highest taxes, in which the top 10 percent pay more than 60 percent of the tax revenue, the call for new taxes and further burdens is incomprehensible, emphasizes the Industrial Association (IV). People long for security and stability, and the discussion about new taxes is already creating widespread uncertainty – in companies as well as in private households. Assets are primarily tied up in companies and would destroy them or turn them into takeover candidates.
Wealth tax destroys Austrian business infrastructure
In addition, a wealth tax is primarily a snooping tax and is disproportionate to the associated administrative effort and the need for complete transparency for all citizens in Austria. In order to determine whether a household is subject to tax, all citizens must disclose to the state what they own. This complex, bureaucratic investigation process turns Austrians into transparent citizens. What is needed are clear measures that significantly relieve the burden on people and companies in our country. A massive reduction in non-wage labor costs would, for example, ensure that Austrians have more net income left over their gross income.
Questions & Contact:
Industrial Association
Marlena Mayer
Press spokesperson
+43 (1) 711 35-2315
marlena.mayer@iv.at
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