Taxation in Austria

In Austria, taxes are levied by the state and the tax revenue in Austria was 42.7% of GDP in 2016 according to the World Bank[1] The most important revenue source for the government is the income tax, corporate tax, social security contributions, value added tax and tax on goods and services.[2] Another important taxes are municipal tax, real-estate tax, vehicle insurance tax, property tax, tobacco tax. There exists no property tax. The gift tax and inheritance tax were cancelled in 2008. Furthermore, self-employed persons can use a tax allowance of €3,900 per year. The tax period is set for a calendar year. However, there is a possibility of having an exception but a permission of the tax authority must be received. The Financial Secrecy Index ranks Austria as the 35th safest tax haven in the world.[3]

  1. ^ "Revenue statictics - 2017" (PDF).
  2. ^ "Revenue statistics - Austria" (PDF).
  3. ^ "View 2018 Results". www.financialsecrecyindex.com. Retrieved 2018-05-02.