Should bring millions

How Benko’s tax loophole will be closed

Benko's privately used villa belonged to a foundation.(Bild: EXPA, APA/ GERHARD HOCHMUTH)

While the fallen real estate tycoon René Benko goes on trial in Innsbruck on Tuesday, politicians are dealing with the tax loopholes that Benko shamelessly exploited. They are now to be closed.

In the case of his villa in Igls, Benko cleverly exploited the current legal situation to the detriment of the Republic and taxpayers. The property, which he and his family lived in for years, was not purchased by him as a private individual. Instead, the "Laura Private Foundation" was interposed, which ultimately rented the villa to him as the actual owner. Benko is far from alone in this trick ...