Expert Commission Presents Package of Measures to Combat Fraud

Starting Thursday, coalition-level discussions will take place on proposals such as the abolition of the input tax deduction for luxury real estate and access rights to the account register for shell companies. The Ministry of Finance plans to save a total of 1.4 billion euros through intensified fraud prevention by 2029. The amount is expected to increase annually, with budget-effective savings of 450 million euros in 2029, 180 million more than next year.

Adoption of the Anti-Fraud Measures Package This Year

To achieve these goals, Finance Minister Markus Marterbauer (SPÖ) has established an expert commission, which includes specialists from his department and other ministries. They have compiled a document intended to enable the achievement of the budget target for 2026. The review is set to begin in a few weeks, with the adoption aimed for this year. Another package is planned for next year. Some proposals from the first document are available to the APA. For example, the abolition of the input tax deduction for luxury real estate is intended to prevent wealthy individuals from reducing the construction costs of their private properties by 20 percent through corporate structures.

In financial criminal law, a gap related to losses is to be closed: Previously, no financial criminal proceedings could be initiated in cases of losses, even in cases of intentional tax reductions. Access rights to the account register in investigations against shell companies are also part of the proposed package. Additionally planned is an automatic exchange of crypto income within the framework of the EU Administrative Assistance Directive. Finally, the acceptance of cash at tax offices is to be limited to 10,000 euros, similar to the regulations at banks, to prevent black money and money laundering.

(APA/Red)

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