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Kurt Bayer: Fighting for Economic Fairness

Kurt Bayer: Fighting for Economic Fairness

Economist Kurt Bayer is theoretically retired. A former senior economist with the Austrian Economics Research Institute (WIFO), head of economic policy for the Austrian Ministry of Finance and a director of the World Bank, he now has time to meet at Café Engländer on a weekday and talk about his work with Transparency International (TI), […]

Taxing the Middle

Taxing the Middle

Austria has clinched a tax repatriation deal with Switzerland [see Austria Briefs, p. 4, TVR May 2012]. Honesty Is Not Rewarded, 18 April by Josef Urschitz Once again, honest tax payers… are the idiots. Any high earner would choose to be taxed at 15–38% – the rates for a one-off taxation of Swiss accounts in […]

Tax deal with Switzerland

Tax deal with Switzerland

On Friday 13 April, Austria clinched a deal with Switzerland that will see Austrians’ secret accounts in the country taxed from 2013, Reuters reported. The agreement came as a relief to Austrian Finance Minister Maria Fekter, who had been criticised for pre-maturely including a €1 billion tax windfall from Swiss accounts in the government’s savings […]

A Path through Europe’s Minefield

Earlier this week, a group of almost 100 prominent Europeans delivered an open letter to the leaders of all 17 eurozone countries. The letter said, in so many words, what the leaders of Europe now appear to have understood: they cannot go on “kicking the can down the road.” And, just as importantly, they now […]

Hungary: let the banks pay

In late September, the Hungarian parliament passed a controversial law allowing holders of Swiss franc denominated mortgages to repay their loans in their entirety at a 23.4% discounted exchange rate, with banks forced to swallow the losses. The move strongly affects Austrian banks, with Erste Bank, Raffeisen and Bank Austria having a combined total of […]

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