The Austrian Economics Center (AEC) and the Hayek Institute have once again calculated how long Austrians would have to work in a year to be able to pay all duties and taxes.
This year’s result is dire: this year there are 227 days (reference date August 15) in which to work for taxes and duties. In other words, starting August 15, Austrian taxpayers can finally keep their earnings and freely dispose of their income for the rest of the year.
Historically, Tax Freedom Day has come a long way since it was first enumerated – it fell on July 1st in 1976. This year’s gap: a month and a half!
Wages and labor costs account for 46.8 percent in Austria. For comparison: the average within the OECD (Organization for Economic Co-operation and Development) is 34.6 percent. Only France, Germany and Belgium have a higher tax burden on labor than Austria.
“Kleine Zeitung” quotes Dominik Santner, state president of the youth industry in Styria, who calculates how much an employer in Austria would have to generate to guarantee a net salary of 2000 euros to its employees: approximately 4000 euros .
