English, Article edition: The Tax Reform 2004-05 – Measures and Macroeconomic Effects Fritz Breuss; Serguei Kaniovski; Margit Schratzenstaller

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Physical Description
  • article
Language
  • English

Edition details

Title
  • The Tax Reform 2004-05 – Measures and Macroeconomic Effects
Author
  • Fritz Breuss
  • Serguei Kaniovski
  • Margit Schratzenstaller
Physical Description
  • article
Notes
  • The tax reform 2004-05 includes tax cuts within income taxation (€ –2.2 billion) and corporate taxation (€ –1.1 billion) as well as increases of several excise taxes (€ +232 million). The changes in the income tax rate scale taking effect in 2005 will increase tax progression and revenue elasticity vis-à-vis 2003; "cold" progression will be compensated only partially. Simulations done with the WIFO macromodel show a positive effect of the tax reform on GDP and employment. The degree of self-financing through growth-induced additional tax revenues is limited.
  • Tax policy; tax reform; corporate taxation; income taxation; Austria
  • RePEc:wfo:wquart:y:2004:i:3:p:127-142
  • The tax reform 2004-05 includes tax cuts within income taxation (€ –2.2 billion) and corporate taxation (€ –1.1 billion) as well as increases of several excise taxes (€ +232 million). It is realised in two steps: the first tax reform package, taking effect in 2004, was adopted by the Austrian Parliament in June 2003, and reduces the tax burden by almost € 0.5 billion. The measures of the second package, which are worth about € 2.5 billion, were adopted in May 2004, and will mostly be implemented in 2005. The total volume of the tax reform 2004-05 reaches about € 3 billion (1.2 percent of GDP) from 2007 on. The tax reform is an important element within the government's long-term strategy to bring the tax ratio down to 40 percent of GDP. According to the current Austrian Stability Programme, the tax reform will decrease the tax ratio from 43.2 percent in 2003 to 41.9 percent of GDP in 2007.
  • Steuerreform Maßnahmen; Selbstfinanzierungsgrad; makroökonomische Effekte; WIFO-Makromodell
  • RePEc:wfo:monber:y:2004:i:8:p:627-643
Language
  • English
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