Industry: Renewed call for wealth tax is unrealistic

Wealth tax attacks small and medium-sized businesses – down with the tax and contribution rate instead of renewed calls for new taxes – 72 percent once morest an annual wealth tax on private property

Vienna (OTS) – The current debate, including an ideology-driven study, paints a distorted picture: the introduction of a wealth tax would directly affect Austrian SMEs. A carpenter with 50 employees would be just as affected by this as, for example, retirees who have worked hard to get their own home. Especially in challenging times of inflation, Austria does not need any new taxes, these are anti-growth and counterproductive, the Federation of Industry criticizes the renewed call for a wealth tax. This is also confirmed by a survey conducted by pollster Peter Hajek in 2022, in which 72 percent of those surveyed spoke out once morest an annual wealth tax on private property such as houses, apartments, jewelry, etc.

Much more important than a renewed debate regarding new taxes would be to talk regarding how it is once once more possible for working people in this country to build wealth more easily. Austria is one of the countries in Europe with the highest tax and duty ratios. The tax ratio in Austria is currently 43.3 percent and is thus the fourth highest in the EU comparison. This makes the dream of owning your own home or other property more difficult, which is why the industrialists’ association insists on a discussion regarding fair wages: performance must be worthwhile once more and that is why the call for new taxes is a misguided topic right now.

Questions & contact:

industrial association
Marlena Mayer
press secretary
[phone]
[e-mail]