Prosecutors accuse property investor Michael Tojner of evading €620,000 in tax

Austria’s Economic and Corruption Prosecutor’s Office has brought charges against a Vienna property entrepreneur and an employee over alleged evasion of property-transfer tax. The entrepreneur was identified by Der Standard as industrialist Michael Tojner.

Prosecutors allege that a 2015 deal involving five residential properties declared a purchase price of €7.27 million. They say Tojner had previously agreed on a €25 million price with another property entrepreneur.

As a result, the tax paid allegedly amounted to about €255,000 instead of roughly €875,000. Prosecutors calculate the shortfall at €620,000. The other property entrepreneur will not face prosecution after filing a voluntary disclosure in time and paying the tax owed.

The prosecutor’s office said tax evasion can carry a penalty of up to twice the amount evaded, along with a prison sentence of up to two years. Tojner’s lawyer, Karl Liebenwein, confirmed that the indictment had been delivered. He said the allegations were not understandable from his client’s perspective. The charges are not legally final, and Tojner is presumed innocent.