Businesshe government plans to cut the lowest income tax bracket to 20 per cent from 25 per cent and make the change retroactive to the start of this year. The Austrian government intends to make one-off payments to jobless people and boost spending on families with children as part of measures this year to cushion the blow from the coronavirus pandemic, its coalition leaders said. On Friday it almost doubled the amount of debt it plans to issue this year to a record level. Austria plans to cut value-added tax (VAT) for restaurants and the culture sector to 5 per cent until the end of the year to help them cope with the fallout, the government said on Friday. Austria has had nearly 17,000 confirmed cases of infection with the virus that causes respiratory disease COVID-19 and 677 reported deaths.

Source: Standard Digital June 13, 2020 10:18 UTC