COVID-19: Support package for start-ups

In mid April, the Austrian federal government presented a COVID package for start-ups. The goal is to support Austrian start-ups that have run into financing and liquidity problems due to the COVID-19 crisis. The COVID start-up package comprises a support fund and a venture capital fund. This article (originally dated 20 April) represents the information […]

read more

COVID-19: Guidelines on Subsidy for Fixed Costs published

On 13 May 2020, the Austrian Ministry of Finance published guidelines on the subsidy for fixed costs as part of the Corona Support Fund. The following update provides an overview of the most important points: Companies which fulfil the following criteria cumulatively are eligible to apply: Legal seat or permanent establishment in Austria Significant operational activity […]

read more

Repayment of tax credits despite deferred arrears

In accordance with the 18th COVID-19 Act, to improve the liquidity situation of companies, it should temporarily be possible for tax credits to be repaid to the taxable person despite of due arrears on their tax account. This is especcialy relevant for tax credits resulting from monthly VAT returns (input VAT surplus) for March or […]

read more

Limitation of distributions and bonus payments due to COVID-19 subsidies

This article provides an overview of the current situation regarding limitations on distributions and bonus payments to board members and managing directors in connection with COVID-19 state aid. The article represents the information availabe to us on 23 April 2020. Since the beginning of the COVID-19 crisis, a recurring view in Austrian political discussions (in […]

read more

COVID-19: Update on new support measures

On 4 April 2020, the Austrian Parliament passed three further legal COVID-19 packages (3rd, 4th and 5th Austrian COVID-19 Acts). These include new legal provisions, as well as clarifications and extensions of the previous COVID-19 Acts. This update provides an overview of the new legal packages in connection with COVID-19 support measures and represents the […]

read more

COVID-19 and international tax law: OECD on permanent establishments and residence status

The measures to control the COVID-19 pandemic have caused severe restrictions on international mobility. In international tax law, this could lead to unintended changes in the right to tax between countries, such as through the creation of a permanent establishment (PE) or a change in the place of effective management for companies operating internationally. The […]

read more

Additional extension of due dates for annual financial statements

On 4 April 2020, the 4th Austrian COVID-19 Act was passed, which amends the COVID-19 Company Law Act (COVID-19-GesG) of 22 March 2020 and introduces additional simplifications for businesses in terms of compliance with their legal obligations. The following due dates and exceptions now apply under Austrian company law: This article represents the information available to us […]

read more

COVID-19: Customs relief and VAT exemption on imports of goods to combat the ongoing coronavirus crisis

In Decision 2020/491 of 3 April 2020, the European Commission granted relief from import duties (incl. customs duties), and a VAT exemption on importation, for goods needed to combat the effects of the COVID-19 outbreak during 2020. Customs law (Council Regulation No. 1186/2009) and Council Directive 2009/132/EC envisage the possibility of relief from customs duties and exemption […]

read more

COVID-19: Austrian Alcohol Tax Act – tax-exempt alcohol for production of disinfectants

The Austrian Ministry of Finance has introduced simplifications in relation to the use of tax-exempt alcohol for the production of disinfectants. In addition to an application to the Customs Office, applications may also be made by email to the address corona@bmf.gv.at by 31 May 2020, in accordance with Austrian regulation BGBl II 121/2020. This includes applications for approval […]

read more

COVID-19: Subsidies and support measures for companies

The Austrian federal government has announced and already introduced subsidies and support measures for companies due to the current coronavirus (COVID-19) outbreak. This article was prepared on the basis of the information available to us on 30 March 2020. On 14 March 2020, the Austrian government presented the COVID-19 crisis response fund amounting to EUR 4bn, which is intended to […]

read more