Austrian Federal Tax Code (FTC) – increase of interest rates
Due to the further increase of the key ECB interest rate by 0.5%, changes to deferral interest, interest for suspension, claim interest (interest for subsequent payments and credits), appeal interest, as well as VAT interest have occurred.
The European Central Bank raised its key interest rate effective as of 22 March 2023. Due to the automatic adjustment, the Austrian base rate has increased from 2.38% to 2.88%. Currently, the relevant interest rates are a uniform 2% above the base rate.
Starting 22 March 2023, the effective interest rates in the Austrian Federal Tax Code (FTC) are as follows:
| Deferral interest | sec 212 para 2 FTC | 4.88 % * |
| Interest for suspension | sec 212a para 9 FTC | 4.88 % |
| Claim interest | sec 205 para 2 FTC | 4.88 % |
| Appeal interest | sec 205a para 4 FTC | 4.88 % |
| VAT interest | sec 205c para 5 FTC | 4.88 % |
| * until 30 June 2024, in accordance with sec 323c para 13 FTC, subsequently 7.38 % | ||
The corresponding BMF (Austrian Ministry of Finance) decree of 16 March 2023 was published in Findok on 17 March 2023. This replaces the BMF decree of 3 February 2023.
If the above-mentioned interest amounts are below EUR 50.00, they should not be assessed.
