By Rob Hyde Austria has won back 416,7 million Euros deposited in Switzerland since the two countries signed a special tax agreement. Since the start of the new information-exchange at the start of 2013, 13,600 Austrians have come forward and divulged details of assets they have based in Switzerland. The investors, who managed to declare […]
Tag: finance
Baumgartner tax row
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The tax proceedings of the extreme sportsman Felix Baumgartner are still underway. Mr Baumgartner told the Austria Press Agency that he asked the Independent Finance Senate (UFS) to resolve his case. Mr Baumgartner has recently told the newspaper “Kronen Zeitung” that the Ministry of Finance denied his tax-saving status as part of an external audit. […]
The extreme sportsman Felix Baumgartner stated that the Ministry of Finance spared him additional taxation by political intervention. The former Financial Secretary Reinhold Lopatka (ÖVP) denies these claims. It was known that Baumgartner moved to Switzerland due to tax reasons. Mr Baumgartner told the newspaper “Kronen Zeitung” that the Ministry of Finance denied his tax-saving […]
74 million plus doubted
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The 74 million Euro surplus in Salzburg’s finances presented by state finance chef David Brenner last week has raised doubt amongst experts and party leaders. The main critic from experts is that no one knows how much was paid for the paperwork or just how much Salzburg will be able to step out of the […]
Mud fight continues in Salzburg
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A bitter row between the conservative People’s party ÖVP and the social Democrats SPÖ in the regional parliament in Salzburg is continuing to interrupts the smooth running of government. The row centres about responsibility for the investment of taxpayers money in risky financial investments and the possible loss of several hundred million euros. In advance […]
Regional parliamentary president Simon Illmer (ÖVP) has criticised from his point of view the sloppy work carried out investigating exactly what happened in the Salzburg region’s financial scandal. He said the fact that the search for the missing millions has not yet come up with a concrete result about what happened to the money is […]
Sberbank set to spend 300mn
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The new owner of Volksbank International (VBI) has revealed plans to invest hundreds of millions of Euros. Sberbank – which transferred 505 million Euros for the finance institute to Volksbank AG (ÖVAG) in February – announced yesterday (Tues) it would spend 300 million Euros on the restructuring of VBI to support the planned expansion. Sberbank, […]
The opposition teamed up in attacking the government over its tax agreement with Switzerland. People’s Party (ÖVP) Finance Minister Maria Fekter agreed with her Swiss counterpart, Eveline Widmer-Schlumpf, about charging a tax of 15 to 38 per cent on Austrians’ assets in Switzerland shortly. Fekter said in Swiss capital Bern, where the treaty was signed […]
Koren at the ready for ÖVAG top job
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Stephan Koren has reportedly agreed to take the hot seat at Volksbank AG (ÖVAG). The ex-BAWAG PSK (BAWAG) manager has been rumoured to replace Gerald Wenzel as ÖVAG CEO for some time. Now People’s Party (ÖVP) Finance Minister Maria Fekter announced Koren signalised interest in the position. Fekter said yesterday (Weds) the banker was ready […]
Fekter faces the axe, papers claim
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Rumours that People’s Party (ÖVP) Finance Minister Maria Fekter will soon have to go are increasing following the most recent budget dispute. The finance minister was seen as a contender for ÖVP leadership following the resignation of Josef Pröll as chairman, vice chancellor, and finance minister last year. Economy Minister Reinhold Mitterlehner was given good […]