The new Minister of Finance Markus Marterbauer (Independent) spoke in the “Krone” interview for wealth tax. In himself he regards taxes as economically useful for high legacy and assets. At the same time, however, he excludes this until 2029.
The reason: they are not in the program of the new coalition of three. “They are not for the debate for the next five years,” concluded Marterbauer. He hoped that they could be implemented in the next government program.
In an interview with Conny Bischofberger, the new Minister of Finance mentioned his reasons for inheritance and wealth tax: more equal opportunities and a better training system for people who have no inheritance. Many EU countries already have inheritance taxes. Euronews reported that 19 countries had inheritance, gift or wealth tax (from 16.4.2024). These include, for example, Belgium and France in most countries, the share of taxes on activation transfers in the total tax volume is low.
No inheritance tax in eight EU countries
As a rule, the wealth tax is collected once a year, inheritance taxes are only collected when the donor died. According to the Tax Foundation, there have been no taxes in eight EU countries since 2022 in addition to Austria, the Cyprus, Estonia, Latvia, Malta, Romania, Slovakia and Sweden. An inheritance or wealth tax has never been collected in Estonia and Latvia.
In Austria this was abolished in August 2008, the wealth tax in 1993. However, there is still a real estate transfer tax for heritage and heirs. Moreover, this tax was increased during real estate transmissions. The Constitutional Court argued for unequal treatment of financial assets and real estate.
How the parties are there
During the last election campaign, the Spö in particular propagated the tax and inheritance tax as without an alternative. The party leads, among other things, the unjust distribution of wealth and tax burden in Austria. “Working through work is to be rewarded, high collections of millions of assets in the hands are less loaded,” says the website.
The greens also appear before it, ÖVP, FPö and Neos are against it. For example, counter arguments are that taxes are hostile to the performance, location and jobs would endanger. As an alternative, the NEOs ask for a new tax system. In any case, there are no power taxes in the government program of ÖVP, Spö and Neos, the Spö was canceled. Marterbauer, who was nominated by the Spö, made it clear on Thursday to feel bound to the government program.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
