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The Tax Reform 2004-05 – Measures and Macroeconomic Effects

Author

Listed:
  • Fritz Breuss
  • Serguei Kaniovski
  • Margit Schratzenstaller

Abstract

The tax reform 2004-05 includes tax cuts within income taxation (€ –2.2 billion) and corporate taxation (€ –1.1 billion) as well as increases of several excise taxes (€ +232 million). The changes in the income tax rate scale taking effect in 2005 will increase tax progression and revenue elasticity vis-à-vis 2003; "cold" progression will be compensated only partially. Simulations done with the WIFO macromodel show a positive effect of the tax reform on GDP and employment. The degree of self-financing through growth-induced additional tax revenues is limited.

Suggested Citation

  • Fritz Breuss & Serguei Kaniovski & Margit Schratzenstaller, 2004. "The Tax Reform 2004-05 – Measures and Macroeconomic Effects," Austrian Economic Quarterly, WIFO, vol. 9(3), pages 127-142, August.
    • Handle: RePEc:wfo:wquart:y:2004:i:3:p:127-142
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