Austria to ease tax burden on workers

Austria to ease tax burden on workers

By PGInvest | My Reviews | 27 Apr 2020

The Austrian government, which has begun to ease the restrictions imposed due to the pandemic, will guarantee tax relief for low- and middle-income workers and pressure multinationals to pay more taxes, Chancellor Sebastian Kurz said on Monday.

The Austrian government - a coalition between conservatives and The Greens - has already pledged € 38 billion in aid, equivalent to 10% of GDP, to support businesses and secure jobs.

Kurz indicated that 14 billion euros have already been delivered in support and said that tax measures will be taken.

"Health workers, security forces, supermarket employees and many others - those who work hard should have more money in their wallets in the future. It is a matter of social justice but also, in times like these, the need to stimulate consumption domestic, "said the chancellor in a televised speech.

Kurz also said that he will pressure multinationals to pay more taxes, with Austria already applying a 5% digital tax on large international companies, such as Google and Facebook, on digital advertising revenues.

"At national and European level we are going to fight against all forms of tax evasion and against the unfair tax practices of large companies, because everyone must pay what is fair, particularly in times like these that we live in," defended the chancellor.

Austria adopted restrictive measures early on in the initial phase of the covid-19 outbreak in the country, including the closure of schools, bars, restaurants, concert halls, non-essential trade and banned gatherings of people. He also recommended that the population remain at home and that they opt for teleworking whenever possible.

This strategy allows the country to show less than 1% growth in the number of infected people and also a reduced number of deaths compared to other countries.

Since the beginning of the pandemic, Austria has recorded 15,274 cases and 549 fatalities.

The Austrian government has authorized the reopening, on April 14, of stores with areas up to 400 meters and, from Friday, larger stores will also be able to reopen to the public.

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