The Austrian Government has set up a working group for tax reform, with a view to submit reform recommendations by the end of 2014. The specific reform objectives have already been set out in the coalition agreement, and the planned reforms will reduce the tax burden, lower the basic rate of income tax to about 25%, and to harmonize and simplify the tax system. Other reforms envisaged include tightening of the group tax regime, a repeal the tax break for “golden handshakes,” introduction of a new model for the consumption tax, and to modify the profit allowance for self-employed workers.. The working group will also provide oversight to the provisional budget for 2014, which for several tax rises, and for the reintroduction of a sparkling wine tax.
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