The Ministry of Finance (german: Bundesministerium für Finanzen) is the

government ministry Ministry or department (also less commonly used secretariat, office, or directorate) are designations used by first-level executive bodies in the machinery of governments that manage a specific sector of public administration." Энцикло� ...

Austria Austria, , bar, Östareich officially the Republic of Austria, is a country in the southern part of Central Europe, lying in the Eastern Alps. It is a federation of nine states, one of which is the capital, Vienna, the most populous ...

responsible for the

collection Collection or Collections may refer to: * Cash collection, the function of an accounts receivable department * Collection (church), money donated by the congregation during a church service * Collection agency, agency to collect cash * Collectio ...

taxes A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or ...

and

customs Customs is an authority or agency in a country responsible for collecting tariffs and for controlling the flow of goods, including animals, transports, personal effects, and hazardous items, into and out of a country. Traditionally, customs ...

as well as the administration of

fiscal Fiscal usually refers to government finance. In this context, it may refer to: Economics * Fiscal policy, use of government expenditure to influence economic development * Fiscal policy debate * Fiscal adjustment, a reduction in the government ...

and

economic policy The economy of governments covers the systems for setting levels of taxation, government budgets, the money supply and interest rates as well as the labour market, national ownership, and many other areas of government interventions into the e ...

. It oversees the Revenue Service, the Revenue Service for Large Businesses, the Financial Police, and various other agencies. It is headquartered in the

Winter Palace of Prince Eugene The Winter Palace of Prince Eugene (german: Winterpalais Prinz Eugen), also known as the City Palace (german: Stadtpalais), is a high- Baroque palace in the Innere Stadt district of Vienna, Austria. Located on a narrow street at Himmelpfortgasse ...

Vienna en, Viennese , iso_code = AT-9 , registration_plate = W , postal_code_type = Postal code , postal_code = , timezone = CET , utc_offset = +1 , timezone_DST ...

. The current Minister is

Magnus Brunner Magnus Brunner (; born 6 May 1972) is an Austrian politician of the Austrian People's Party (ÖVP) who has been serving as Austria's finance minister since 6 December 2021 in the government of Chancellor Karl Nehammer. Early life and education B ...

Structure and function

The Ministry is responsible for revenue administration at the

federal Federal or foederal (archaic) may refer to: Politics General *Federal monarchy, a federation of monarchies *Federation, or ''Federal state'' (federal system), a type of government characterized by both a central (federal) government and states or ...

level, including the

government budget A government budget is a document prepared by the government and/or other political entity presenting its anticipated tax revenues (Inheritance tax, income tax, corporation tax, import taxes) and proposed spending/expenditure (Healthcare, Educa ...

, matters of finance concerning the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been des ...

tax A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or n ...

es,

duties A duty (from "due" meaning "that which is owing"; fro, deu, did, past participle of ''devoir''; la, debere, debitum, whence "debt") is a commitment or expectation to perform some action in general or if certain circumstances arise. A duty may ...

and

tariff A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and poli ...

s. It defines and conducts the country's

budgetary policy Budgetary policy refers to government attempts to run a budget in equity or in surplus. The aim is to reduce the public debt. It is not the same as a fiscal policy In economics and political science, fiscal policy is the use of government ...

concerning

currency A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general def ...

credit Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), ...

savings bank A savings bank is a financial institution whose primary purpose is accepting savings account, savings deposits and paying interest on those deposits. History of banking, They originated in Europe during the 18th century with the aim of providi ...

s ( Sparkassen) and

exchange Exchange may refer to: Physics *Gas exchange is the movement of oxygen and carbon dioxide molecules from a region of higher concentration to a region of lower concentration. Places United States * Exchange, Indiana, an unincorporated community * ...

matters,

capital Capital may refer to: Common uses * Capital city, a municipality of primary status ** List of national capital cities * Capital letter, an upper-case letter Economics and social sciences * Capital (economics), the durable produced goods used f ...

movements and

settlement Settlement may refer to: *Human settlement, a community where people live *Settlement (structural), the distortion or disruption of parts of a building * Closing (real estate), the final step in executing a real estate transaction *Settlement (fin ...

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

control and

hallmark A hallmark is an official mark or series of marks struck on items made of metal, mostly to certify the content of noble metals—such as platinum, gold, silver and in some nations, palladium. In a more general sense, the term ''hallmark'' can al ...

s. It is also concerned with

, if not discharged by the Ministry of Economy. The Finance Minister and the

General Secretary Secretary is a title often used in organizations to indicate a person having a certain amount of authority, power, or importance in the organization. Secretaries announce important events and communicate to the organization. The term is derived ...

chair six departments (''Sektionen''): *Dept. I: Office of the Minister *Dept. II: Federal

budget A budget is a calculation play, usually but not always financial, for a defined period, often one year or a month. A budget may include anticipated sales volumes and revenues, resource quantities including time, costs and expenses, environmenta ...

*Dept. III: Economic policy and

financial market A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial markets ...

s *Dept. IV: Taxes and tariffs *Dept. V:

Information technology Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of data . and information. IT forms part of information and communications technology (ICT). An information technology system (I ...

*Dept. VI:

Fiscal policy In economics and political science, fiscal policy is the use of government revenue collection (taxes or tax cuts) and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variables ...

and

tax law Tax law or revenue law is an area of legal study in which public or sanctioned authorities, such as federal, state and municipal governments (as in the case of the US) use a body of rules and procedures (laws) to assess and collect taxes in a ...

History

A first ''Hofkammer'' (court chamber)

stewardship Stewardship is an ethical value that embodies the responsible planning and management of resources. The concepts of stewardship can be applied to the environment and nature, economics, health, property, information, theology, cultural resources e ...

for the

Austrian Austrian may refer to: * Austrians, someone from Austria or of Austrian descent ** Someone who is considered an Austrian citizen, see Austrian nationality law * Austrian German dialect * Something associated with the country Austria, for example: ...

lands was established in Vienna by Archduke Ferdinand I, in order to balance the deficient

Habsburg The House of Habsburg (), alternatively spelled Hapsburg in Englishgerman: Haus Habsburg, ; es, Casa de Habsburgo; hu, Habsburg család, it, Casa di Asburgo, nl, Huis van Habsburg, pl, dom Habsburgów, pt, Casa de Habsburgo, la, Domus Hab ...

budget. Re-established by

Maria Theresa Maria Theresa Walburga Amalia Christina (german: Maria Theresia; 13 May 1717 – 29 November 1780) was ruler of the Habsburg dominions from 1740 until her death in 1780, and the only woman to hold the position ''suo jure'' (in her own right). ...

in 1760, the chamber became the '' k.k.'' Finance Ministry of the

Austrian Empire The Austrian Empire (german: link=no, Kaiserthum Oesterreich, modern spelling , ) was a Central-Eastern European multinational great power from 1804 to 1867, created by proclamation out of the realms of the Habsburgs. During its existence, ...

upon the

Revolutions of 1848 The Revolutions of 1848, known in some countries as the Springtime of the Peoples or the Springtime of Nations, were a series of political upheavals throughout Europe starting in 1848. It remains the most widespread revolutionary wave in Europea ...

and took its seat at the former city palace of Prince Eugene. After the

Austro-Hungarian Compromise of 1867 The Austro-Hungarian Compromise of 1867 (german: Ausgleich, hu, Kiegyezés) established the dual monarchy of Austria-Hungary. The Compromise only partially re-established the former pre-1848 sovereignty and status of the Kingdom of Hungary ...

, the Austrian Finance Minister was only responsible for the

Cisleithania Cisleithania, also ''Zisleithanien'' sl, Cislajtanija hu, Ciszlajtánia cs, Předlitavsko sk, Predlitavsko pl, Przedlitawia sh-Cyrl-Latn, Цислајтанија, Cislajtanija ro, Cisleithania uk, Цислейтанія, Tsysleitaniia it, Cislei ...

n crown lands, while for the common financial policy of the

real union Real union is a union of two or more states, which share some state institutions in contrast to personal unions; however, they are not as unified as states in a political union. It is a development from personal union and has historically bee ...

, a separate

Austro-Hungarian Austria-Hungary, often referred to as the Austro-Hungarian Empire,, the Dual Monarchy, or Austria, was a constitutional monarchy and great power in Central Europe between 1867 and 1918. It was formed with the Austro-Hungarian Compromise of ...

''k.u.k.'' Finance Ministry was established. After

World War I World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fightin ...

, the

First Austrian Republic The First Austrian Republic (german: Erste Österreichische Republik), officially the Republic of Austria, was created after the signing of the Treaty of Saint-Germain-en-Laye on 10 September 1919—the settlement after the end of World War I w ...

implemented a ''Staatsamt für Finanzen'', which was renamed upon the adoption of the

Austrian Constitution The Constitution of Austria (german: Österreichische Bundesverfassung) is the body of all constitutional law of the Republic of Austria on the federal level. It is split up over many different acts. Its centerpiece is the Federal Constitutional ...

(B-VG) in 1920.

List of Ministers

External links

Official website
{{authority control 1848 establishments in the Austrian Empire Austria, Finance

Finance Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fina ...

Lists of government ministers of Austria

Structure and function

History

List of Ministers

See also

External links