Krems, along with St. Pölten, forms the western boundary of the CETROPE regional zone. This regional zone was established with the aim of promoting economic integration and competitiveness, and to create a region, in the heart of Europe, capable of asserting itself internationally. The region, which straddles the neighbouring areas of four central European countries, includes the provinces of Vienna, Lower Austria and Burgenland in Austria, Czech Republic, Slovakia, and Hungary.
More than 6.5 million people live in this socio-economic zone and the comprising regions are among the most productive of the four countries. Austria's participating region, the "Vienna Region", which includes the provinces of Vienna, Lower Austria and Burgenland, has contributed more than 45% of Austria's gross value added production in the last few years. The region has the somewhat unique advantages of being at the intersection of some major European transport arteries with easy access to major urban concentrations and well educated and trained labour resources.
Austria in general, and Krems in particular, offer ideal locations for the corporate headquarters of internationally active companies. Austria offers advantageous group taxation which enables the off-setting of losses from the start-up of foreign subsidiaries or joint ventures against profits from Austrian operations. The extensive array of double-taxation agreements ensures that taxation at source on dividends, interest and licence fees is minimized. Companies in Austria pay corporation tax at a rate of 25% and nothing further - no property tax and no business tax. Austria ranks as one of the top countries in respect of quality of living, security and health infrastructure. The country is a logical "first stop" to look for and inspire top-notch expertise for serving and managing eastern European activities.
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