The rule of law as the key to strengthening the Austrian economy!

The rule of law as the key to strengthening the Austrian economy!

In a critical analysis of the Austrian economic situation, experts warn of the negative effects of bureaucracy and uncertain legal framework. At an event in the Palais Lower Austria in Vienna, Wolfgang Peschorn, President of the Financial Procurature, and Philipp Rath, President of the Association of Austrian Tax Advisors and Auditors (VWT), formulated urgent reform claims. Peschorn emphasized the need for clear and comprehensible laws in order to increase both the efficiency of the state and to promote the trust of companies. "We are all partners: inside when it comes to applying laws," he said. The bureaucracy had to be dismantled to ensure economic planning security, as ambiguities could deter companies in the regulations.

Philipp Rath added that the more than 99 percent of the Austrian corporate landscape consist of small and medium -sized companies (SMEs) that secure two thirds of all jobs. "It is high time to quickly tackle central reforms: tax cuts, deburgratization and digitization must be an absolute priority." The non -wage costs, which should no longer be more bearable, were also on the agenda. The VWT President urgently demanded that politics act to make Austria more competitive again and to reduce the pressure of the company burden. "The budget deficit must be got under control," said Rath, who also encouraged better digital support for tax processes.

criticism of the applicable legislation

The experts find that the confusion of current laws not only creates administrative effort, but also leads to companies relocating their investments abroad. "If companies do not know why they are, they invest elsewhere," warned Rath urgently and warned to simplify the tax framework. In addition, the discussion about the EU directive caused a sensation for sustainability reporting, since many companies in the current economic situation cannot carry the elaborate documentation.

The event was greatly attended and showed that the issues of the rule of law, reduction in bureaucracy and planning security are of great relevance for companies. An urgent appeal to politics was directed to improve the conditions for Austria in order to actively shape future developments. These demands can be seen as a clear wake -up call for all decision -makers in order to tackle necessary reforms promptly.

The detailed reporting on the event and the concerns expressed can be read on Leadersnet . The VWT also speaks for these urgent measures, such as OTS reported.