AUSTRIA: MOTORISTS FACED WITH HIGHER COSTS

Article Abstract:

Austria's new coalition government consisting of the conservative People's Party OVP and the far-right Freedom Party FPO is planning to increase the engine-linked motor insurance tax by 30%. The hike that is said to be overdue is expected to raise an additional income of Sch 4bn. Insurance companies, which have to collect the tax, are concerned about the increase because it coincides with their plans to raise premiums by 4-6%. Insurance companies are making losses in the motor vehicle sector. Austrian motorists will also be faced with the increase of the annual motorway usage tax (vignette). From the beginning of 2001 it will cost Sch 1,000 rather than Sch 550.

Publisher: Unabhaengige Tageszeitungs fuer Oesterreich
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
Trucking, General Freight Trucking, Taxes

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AUSTRIA: GERMAN INSURANCE PARTNER FOR TISPA

Article Abstract:

Bayerische Versicherungskammer wants to expand to the Austrian market. It is to take a 2.5% stake in Tiroler Sparkasse (Tispa) within a capital increase. Bayerische Landesbank (BayernLB) holds a 25% plus one share stake in Tispa. Tispa expects an operating profit of more than Sch 300mn on a balance sheet total of Sch 46bn in 1999.

Publisher: Unabhaengige Tageszeitungs fuer Oesterreich
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 1999
Commercial Banking, Retail Banking Services, Clearing Banks, Financial Transactions Processing, Reserve, and Clearinghouse Activities, Parent-to-subsidiary activities, Subsidiary-to-parent activities, Retail banking, Bank clearinghouses, Tiroler Sparkasse, Bayerische Versicherungskammer

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Subjects list: Austria, Property and casualty insurance
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