Tojner faces tax evasion indictment over property deal

Austria’s Economic and Corruption Prosecutor’s Office has indicted a Vienna real estate entrepreneur for alleged tax evasion, ORF reported. Der Standard identified the suspect as Michael Tojner.

The case concerns a 2015 property deal involving five residential properties. The suspect allegedly declared a purchase price of 7.27 million euros, although he had previously agreed on a price of 25 million euros with another real estate entrepreneur.

As a result, Tojner allegedly paid 255,000 euros in real estate transfer tax instead of around 875,000 euros. The resulting alleged tax shortfall is 620,000 euros. An employee of the real estate entrepreneur has also been indicted.

The Economic and Corruption Prosecutor’s Office said tax evasion can carry a penalty of up to twice the amount evaded, as well as a prison sentence of up to two years.

The other real estate entrepreneur will not face prosecution after filing a voluntary disclosure in time and paying the outstanding tax.

Tojner’s lawyer, Karl Liebenwein, confirmed to Der Standard that the indictment had been served. He said the allegations were incomprehensible to his client. Tojner is presumed innocent, and the indictment is not yet legally binding.