Austrian Finance Minister planning for greater fiscal sovereignty for the federal states and municipalities, to decrease administrative costs and finance tax cuts for low earners.
He also said that, “tax sovereignty should pass from Government to regional level where it makes sense. And need an ultimate restructuring of tax administration and a move to a Swiss-style system of cantonal taxation would make the Austrian tax system more efficient. It would have a positive impact on Austria’s competitiveness, promote financial responsibility, and generate significant savings of about USD44.8m.” Currently, the Government can enact for a tax if it is at least partially entitled to the tax revenue.
