The Executive Board of the OeNB has announced that it will provide funding totaling around EUR 2.9 million from the anniversary fund for the promotion of research and teaching in science for a total of eleven research projects. One of the projects receiving funding is led by WU professor Alexander Rust from the Department of Austrian and International Tax Law.

Research project on wealth tax 

In his project entitled “The taxation of net wealth,” Prof. Rust is investigating whether it would make sense to reintroduce a wealth tax in Austria.

"While the tax burden on earned income in Austria is relatively high by international standards, capital has so far been taxed comparatively little. On the other hand, the collection and administrative costs of a wealth tax are considerable. In addition, the constitutional framework must be taken into account: a wealth tax that also covers capital assets would only be possible on the basis of an amendment to the Final Taxation Act. A legal comparison with other countries should provide information on how a wealth tax should be properly structured and what tax revenue could realistically be expected from its reintroduction," said Rust.