Tax reform required: Rath sees urgent need for action for the government!

Tax reform required: Rath sees urgent need for action for the government!

Laimgrubengasse 10, 1060 Wien, Österreich - On January 15, 2025, the respected tax advisor and president of the Association of Austrian tax advisors and business loyalists (VWT), Mag. Philipp Rath, expressed several urgent claims to the new government in an interview. He emphasized the need for a fundamental reform of tax law in Austria in order to secure the competitiveness of companies and to reduce the high personnel, energy and bureaucracy costs. The current conditions hinder Austria and make it less attractive in international comparison, as Rath explained. Simplifications in income tax law are particularly important in order to create incentives for the transition from part-time to full-time jobs instead of burdening them by high tax burdens.

urgent measures required

Rath also criticized the government's approach to implementing EU specifications in good time with the sustainability reporting because Austria failed to implement EU requirements. These delays lead to uncertainties for corporate qualifications in 2024. At the same time, he called for a revision of the criteria for the size of companies that have to create reports relevant to sustainability. The current limit of 250 employees is difficult for many smaller companies. An increase or simplification of the requirements could avoid competitive disadvantages, he said. Rath also emphasized the importance of the annual VWT conference in Seefeld, which is a platform for the exchange between tax experts

Philipp Rath, himself managing director of Bernardini, Egger & Co Steuerberatung und Wirtschaftsprüfung GmbH in Vienna, has been in the industry for years and brings extensive experience. In recent years, he has also been active in the chamber of tax consultants and auditors (KSW) and is committed to practical solutions that the new government should take up. The provision of solutions to improve the framework conditions for companies has a high priority for Rath, which makes it clear how important it is a strong tax basis for the Austrian economy. This can also be seen in his expectations of the upcoming political decisions, as reported in the BFGjournal.