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Austria has the 2nd highest tax wedge among the 34 OECD member countries. The average single worker in Austria faced a tax wedge of 49.4% in 2014 compared with the OECD average of 36.0%.
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The tax burden in Austria increased by 0.9 percentage points from 41.7% to 42.5% in 2013. The OECD average was an increase of 0.4 percentage points from 33.7% to 34.1%. The Austrian standard VAT rate is 20%, which is above the OECD average. The average VAT/GST standard rate in the OECD was 19.1% on 1 January 2014.
The Global Forum on Transparency and Exchange of Information for Tax Purposes has released peer review reports assessing the tax systems of 13 jurisdictions for information exchange.
As a further sign of international efforts to crack down on tax offenders, 12 more countries have signed, or committed to sign, the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters. In addition, another 6 countries have ratified the Convention.
Furthering efforts to fight against international tax evasion and bank secrecy, members of the Global Forum on Transparency and Exchange of Information for Tax Purposes have issued 12 new peer review reports.