Austria, Slovenia Ink Revised DTA

by Ulrika Lomas, Tax-News.com, Brussels

30 September 2011

Aiming to further strengthen economic relations with Slovenia, Austria’s Financial State Secretary Andreas Schieder recently signed a revised bilateral double taxation agreement (DTA) between the two countries.

Commenting on the signing of the agreement, Financial State Secretary Schieder stated that, given the very close and strong economic ties between Austria and Slovenia, it is all the more important to work together closely to achieve greater transparency and to combat tax evasion.

According to Schieder, the signed agreement with Slovenia brings the two countries closer to these objectives while at the same time improving the conditions for industry in Austria. The agreement guarantees legal certainty as regards taxation and as regards simplified trade relations for Austrian businesses active in Slovenia, Schieder stressed.

Regarding economic relations between Austria and Slovenia, Schieder emphasized that these economic ties are already good, while underscoring that improvements are always possible. Alluding to the fact that Austria is one of Slovenia’s three major trading partners, Schieder explained that Slovenia is of great importance to Austria’s export industry, noting that it currently imports around EUR1,100 per capita from Austria.

During the working visit to Slovenia, Schieder also met with representatives from the Slovenian government. In addition to talks on the political and economic situation in both countries, discussions also centred on the economic situation in Europe. Here, Schieder welcomed the fact that Slovenia recently voted in favour of expanding the European Financial Stability Facility (ESFS) rescue fund.

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