Austria’s Finance Minister Josef Pröll has announced that a group of leading experts, commissioned recently to reform the country’s system of taxation, are due to begin work before the end of the year.
Determined to radically reform Austria’s increasingly complex and burdensome tax law, Pröll has revealed that the tax reform committee will be responsible for analysing existing legislation, before then proposing future reform measures.
Pröll is confident that reform will lead to a more transparent and simplified system for individuals, particularly as regards income tax declarations, and that much-needed changes will also serve to reduce the number of tax disputes.
In a further announcement, Finance Minister Pröll has confirmed plans to begin the process of budgetary consolidation, focusing on government expenditure, with a view to implementing plans as soon as the country’s economy has sufficiently stabilized, in either 2011 or 2012.
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