VAT reduction for hospitality, cultural and publishing sectors
On 12 June 2020, the Austrian Minister of Finance announced a new supporting measure for the hospitality, tourism and cultural sectors.
Accordingly, a reduced VAT rate of 5% will apply for supplies of all food and beverages in restaurants and other catering establishments, as well as for access to museums, cinemas or musical events and supplies in the publishing sector. The reduced tax rate of 5% will apply for a limited period only, from 1 July 2020 to 31 December 2020.
The new supporting measure will therefore further reduce the VAT rate for unbottled non-alcoholic beverages to 5%. It was already announced at the beginning of June that the tax rate would be reduced to 10% for the period 1 July 2020 to 31 December 2020.
