AUSTRIA: PLANS TO CHANGE FOOD, DRINK TAXATION

Article Abstract:

Austria's new government is planning changes in food and drink taxation from mid-2000. According to plans announced by finance minister Karl-Heinz Grasser, the drink tax on non-alcoholic beverages and the ice-cream tax will be abolished in 2001. (The European Court already banned Austria's drink tax on alcoholic beverages.) On the other hand, consumption taxes on alcoholic beverages and the value-added tax on tea, coffee and food (served in restaurants and bars) will be increased. VAT on tea and coffee will rise from 10% to 20% and that on meals from 10% to 13%. The tax hikes yield the local authorities (which lost the revenue from the drink tax on alcoholic beverages) Sch 4.5bn but leave them with a loss of income of about Sch 1.2bn. The same amount represents savings to restaurants. The tax burden for the drink trade will remain unchanged.

Beverages, Beverage Manufacturing, Processed Coffee, Processed Tea, Coffee and Tea Manufacturing, Public Administration, Taxes, State & Local Government, Coffee (Beverage), Tea (Beverage)

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AUSTRIA/GERMANY: DO & CO SEEK GROWTH ABROAD

Article Abstract:

The Austrian catering company Do & Co is to set up five outlets in Germany by the end of the current financial year to 31 March 2001. Initially each outlet should generate a turnover of Sch 40mn to Sch 50mn. Operations in Miami are to start in June 2000. In December 1999, Do & Co opened an outlet in New York. Foreign operations contribute 32% to Do & Co's turnover and 65% to profits. In 1999/2000 the company saw a 13.9% increase in turnover to Sch 1.013bn, while earnings before interest and taxes rose 24% to Sch 79.6mn. For 2000/2001 Do & Co predicts a turnover growth of 10-20%. Airline and event catering will remain the core businesses of Do & Co, but the company is seeking to expand also in the fields of golf tournaments and cart races in the US.

United States, Germany, Sales, profits & dividends

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AUSTRIA: HAEGEN-DASZ COMING

Article Abstract:

The ice-cream company Haegen-Dasz is to open its first Austrian outlet in Schwechat airport in spring 2000. Die Presse points out that other ice-cream brands are less expensive and that Austrian consumers appreciate tradition, which involves a strong position of Italian ice-cream parlours.

Ice cream and frozen desserts

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