World Library  
Flag as Inappropriate
Email this Article

Taxation in Austria

Article Id: WHEBN0025135443
Reproduction Date:

Title: Taxation in Austria  
Author: World Heritage Encyclopedia
Language: English
Subject: Economy of Austria, Austria, Taxation in Andorra, Taxation in Serbia, Taxation in Spain
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Taxation in Austria

In Austria, the income tax for individuals in 2005 was progressively set up to 50% on a four-bracket progressive schedule: 21% (on taxable income from €3,640 to €7,270; 31% (€7,270 to €21,800); 41% (€21,800 to 50,870); and 50% above €51,000. Married people are taxed separately. Payroll withholding tax is in effect.

Taxes are levied on corporations (25% on distributed and undistributed profits), trade income, real estate, inheritance, dividends, gifts, and several miscellaneous services and properties.

A value-added tax was introduced January 1, 1973 at a basic rate of 16%. The standard rate in 2005 was 20%. A reduced rate of 10% applied to basic foodstuffs, agricultural products, rents, tourism, and entertainment; banking transactions are exempt and exports are untaxed. There was also an augmented rate of 32% on automobiles, airplanes, and ships.

Capital gains and dividend income are taxed at 25% and are withheld at the source. There is no wealth tax. In accordance with EU guidelines, tax exemptions and reductions are included in incentive packages

This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 



Copyright © World Library Foundation. All rights reserved. eBooks from Hawaii eBook Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.