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1 Kai Weiss, et al., New Details on the Austrian Tax Reform Plan 1 (2019)

handle is hein.taxfoundation/ndaustx0001 and id is 1 raw text is: New Details on the Austrian Tax Reform Plan FISCAL FACT No. 653 May 2019 Kai Weiss Research Fellow at the Austrian Economics Center Elke Asen Researcher Daniel Bunn Director of Global Projects Key Findings Last week, the Austrian Finance Ministry released its tax reform package, amounting to an annual tax cut of C8.3 billion by 2022. The tax reform plan includes lower personal income tax rates and lower social security contributions, reducing Austria's high tax burden on labor. For businesses, the package includes a cut in the corporate income tax rate from the current 25 percent to 23 percent in 2022, followed by 21 percent in 2023. The Tax Foundation is the nation's leading independent tax policy research organization. Since 1937, our research, analysis, and experts have informed smarter tax policy at the federal, state, local, and global levels. We are a 501(c)(3) nonprofit organization. ©2019 Tax Foundation Distributed under Creative Commons CC BY NC 4.0 Editor, Rachel Shuster Designer, Dan Carvajal Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 202.464.6200 taxfoundation.org