Austria today faces a double challenge: to consolidate the country’s fiscal position through effective fiscal and structural policies aimed at reducing the budget deficit and lowering the public debt to GDP ratio. In 2012, Austria managed to narrow its public deficit below 3 percent according to European Union’s Maastricht criteria. In 2012 the public deficit was 2.5% and is estimated to fall to 2.2% in 2013, below the European criteria. State debt is set to peak at 74.7% of GDP in 2012 and 75.4 in 2013, above the EU norm of 60%. Regarding taxation, most of the taxes rates remained unchanged with the exception of flight tax; however tax increases should be expected within 2013 due to the Austrian Consolidation Program 2012-2016. With that program the Austrian federal government is setting the course for a structural and sustainable consolidation of the federal budget, aiming to balance the budget in 2016 and reducing the public debt to 71% of GDP in 2016.
After publishing the real figures of the tax exile as part of the IREF research, this book tells the story of these exiles who are leaving not only for tax reasons, but also because they had enough with this France. A country where more than half of the population is living thanks to public money!
This book is written as a testimony from daily facts encounters by a tax lawyer, whose main activity is to support those who wish to leave France. Among them: industrial, retirees, entrepreneurs, young people, old people… This is an important part of the French wealth that goes … For the first time, a tax lawyer talks openly!
United States: 800,000 Civil Servants Unemployed Means 212,000 Private Sector Jobs Created
About a month ago, the United States experienced the “Shutdown” for 15 days. Several jurisdictions were closed and about 800,000 employees have been laid off because no agreement was reached on the budget. The Democrats and President Obama cried about the paralysis of the economy in order to end the “shutdown”. In fact, the US economy has not been affected by the shutdown. More: the US economy even experienced an upturn. According to the data on the third quarter, U.S. GDP grew by 2.8% and more than 212,000 net jobs were created in the private sector! Long live the “shutdown”!
As shown in the Report of the IREF on Taxation in Europe, many countries have lowered their corporate tax. The UK is among them. The corporate tax will gradually decrease: 23% in 2013/14, 21% in 2014/15 and 20% in 2015/16.
It must be an example for countries as France…
IREF is an independent policy research institute. Our funding is exclusively private and in order to preserve our independency we do not accept any public money.
Siège de l’IREF à Paris 35 avenue Mac-Mahon 75017 Paris Tél : 01.43.80.55.18
Mentions Légales Le présent site http://fr.irefeurope.org ainsi que ses différentes rubriques et sites apparentés (le « Site ») est édité par L’Institut de Recherches Economiques et Fiscales dont le siège…
This article is from our mini-series looking at modern fiscal issues surrounding items listed in the famous 18th century English carol “Twelve Days of Christmas”. We believe that if the…
Identifying the Determinants of Judicial Performance: Taxpayers’ Money well spent?
There has been a sizeable number of studies trying to identify the determinants of judicial performance on the country level. Such a design is appropriate to identify underperforming single judges…
How far should redistribution go? Who should pay for it and how? What is the proper role of the State and what is better left to private initiative? Should insolvent banks be bailed-out? Is it better to tax individuals when they consume or as soon as they earn their income? Should we rely on taxation to bent individuals’ behaviour towards a cleaner, safer life (sin taxes and fat taxes)? Every one has—or should have—an opinion on those important questions.
