Wirtschaftsbund: SPÖ inheritance tax on company takeovers causes lasting damage to the business location

2023-08-28 15:30:45

Egger: Work, performance and property – the enemies of the populist SPÖ class struggle

Vienna (OTS) – “If you follow the media these days, it seems that the SPÖ is trying to overtake the KPÖ on the left. How else does the SPÖ come up with the idea of presenting one Marxist demand after the next? Austria has the fifth-highest tax and contribution ratio in Austria of the EU. Demanding new taxes here shows the callousness with which Babler and Co want to take action against top performers and medium-sized companies. Cashing in money that has sometimes been taxed several times again, after something has often been built up over several generations, hits the middle class in particular then the sad decision to have to sell the inherited house or to close or sell the long-established family business in order to be able to pay the inheritance tax at all,” said WB General Secretary and Abg. e.g. NO. Kurt Egger.

Creeping expropriation or emigration

The inheritance tax has not brought the desired success in the past, as it primarily affected companies and non-wealthy private individuals. In addition, it is one of the most inefficient types of tax due to the high implementation costs. Family businesses in particular are disadvantaged by inheritance tax. Companies that make profits have to pay inheritance tax in addition to other taxes. If there are no profits, the tax still has to be paid – either by taking on new debt or by selling the business. Especially in times of crisis, this weakens the business location and leads to migration. “The demand for an inheritance tax on business takeovers is like a gradual expropriation. While many medium-sized companies are happy if the business is taken over, the SPÖ sees a new cash cow here to collect new taxes from entrepreneurs,” concludes Egger.