Tuesday, 11. March 2014
12. 02. 14. - 14:00
Vienna-based Erste Bank has hit back against tax burdens for Austrian banks after seeing their profits decline by 88% last year.
In a statement released yesterday, Erste Bank announced that their total income had fallen from 483.5 million euros in 2012 to just 60 million euros last year.
Struggling economies in eastern European countries are putting the pressure on the Austrian bank. Erste is also not able to realise as much as profit due to banking levies in the country, they have said.
"This is directly related to the persistently high banking tax burden on the Austrian tax group as well as goodwill writedowns over the past years," the bank said in the statement.
The banking levy introduced in 2011 by Austria has received criticism from banks in the country who feel they are already under pressure from slow recovery conditions in Europe following the financial crisis.
An increase in the levy announced earlier this year as part of the coalitions tax package means it is due to raise just under 650 million Euros in 2014.
'Carnival of Languages' in Vienna
A "Carnival of Languages" is being put on in Vienna in March to celebrate the third birthday of the language centre Eton Institute in the city.
Fashion students graduate with style
Last Saturday the fashion students from Vienna’s A-College held a fashion show for their graduating class at the MGC Modecenter.
English graffiti artists arrested in Austria
Austrian police say they have caught an internationally active graffiti artist from the UK together with three pals who now face up to 5 years in jail and a bill for thousands for the clean up work.
Irish banker in Austria with two wives
An Irish banker who worked for the World Bank in Vienna is being investigated by Austrian police after he was found to have two wives and children with both when he died suddenly, apparently of a natural death.
Police stop people carrier with 42 Romanians inside
Austrian police who stopped a people carrier licensed for nine people found it carrying a total of 42 people from Romania.
Another F1 Driver Hospitalised by Ski Accident
Austrian Formula 1 driver Gerhard Berger, 54, suffered a broken hip and has been hospitalised after suffering an accident very similar to that of fellow ex-driver Michael Schumacher.
Austrian Relieved To Only be Dead On Paper
Austrian man Christian Kozel, 29, discovered he was dead when uniformed police officers turned up at his home in Salzburg at the weekend.
What is on at Burg Kino this week (7 March - 13 March)
See what films are on this week at the Burg Kino on the Opernring.
Police catch graffiti-villain of Vienna
A graffiti sprayer, named "Puber" has been one of the main "villains" of Vienna for almost a year. He has filled almost the half of the city with his drawings. Now, a suspect, alleged to be the notorious sprayer himself is in the police custody of Vienna and may face up to five years in prison.
Apartment sales drop in Austria
According to the brokerage firm Re/Max, the number of the real estate sales in Austria has declined around 8.3% in the last year. The exact number of properties which were sold and bought accounts to over 80,000 units, which translates into 16 billion euros. Apartments were the most popular type of property sold last year, accounting for 28,000 of the units sold, but there has still been a 9.3% decrease from the last year.
The most popular stories –
last 7 days
|Vienna first city to be granted personal domain name|
|Animal rights group protest against Burberry fur in Vienna|
|Another F1 Driver Hospitalised by Ski Accident|
|Co-working initiative comes to Innsbruck|
|Apartment sales drop in Austria|
Why suffer in silence. Let off steam by letting our readers share your troubles. File your complaints about anything and everything here.
Our ombudsman David Rogers will try and help solve some of the problems from lazy civil servants through to incompetent companies – and at the very least the worst transgressors will end up in our weekly special report.