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Austrian business, industry groups show mixed reactions to new gov't tax reforms

Xinhua, March 14, 2015 Adjust font size:

Austrian business and industry group leaders Friday showed mixed reactions to the new federal tax reforms announced by the Austrian government.

President of the Federation of Austrian Industries (IV) Georg Kapsch wrote in a press release Friday that while the reforms package brings some positives, overall there is a lack of lasting structural reforms.

Kapsch added the chance for "great success" has been missed, though said industry will welcome the tariff reforms for employees.

He demanded however the planned relief for companies in 2018 come "as soon as possible".

President of the Austrian Federal Economic Chambers (WKO) Christoph Leitl told the APA in an interview he had "hoped for more" from the tax reforms, but that there could still be changes as the reforms go through the parliamentary process.

He said Austria has a spending rather than revenue problem, and had hoped for more in that regard, and that business is always "highly critical" of burdens, which may now arise. He did say however it is "fundamentally pleasing" that relief is to come to the employed and self-employed.

WKO colleague, trade chairwoman Bettina Lorentschitsch, said she fears "bureaucratic overkill" in implementing some of the reforms, such as the compulsory use of cash registers for cash-only businesses, and that the government may be overestimating how much revenue this will bring.

She also hoped for a "certain relation to reality" for the reforms as they enter the parliamentary process. Endit