The President of the Austrian Institute of Economic Research has urged the Government to launch its offensive on reducing the fiscal burden on labor in Austria as early as next year, starting with a symbolic first step.
He proposed that the Government should begin by decreasing social levies to the tune of “hundreds” of euros at the start of 2015, for workers with gross annual remuneration below the Austrian median of EUR24,000 (USD32,474). Such a measure will demonstrate that the Austrian Government is serious about plans to lower taxes.
This call for tax reductions was accompanied by a warning that the tax ratio must not increase as a result of any tax changes because the Austrian tax ratio of 45 percent is already the fourth highest in the European Union.
