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.
After the European Central Bank increased its key interest rate by 0.25% in July, a further increase of 0.25% with effect from September 20, 2023 was decided on September 14, 2023. Due to the automatic adjustment, the Austrian base rate has increased from 3.38% to 3.88%. Currently, the relevant interest rates are a uniform 2% above the base rate.
Starting 20 September 2023, the effective interest rates in the Austrian Federal Tax Code (FTC) are as follows:
| Deferral interest | sec 212 para 2 FTC | 5.88 % * |
| Interest for suspension | sec 212a para 9 FTC | 5.88 % |
| Claim interest | sec 205 para 2 FTC | 5.88 % |
| Appeal interest | sec 205a para 4 FTC | 5.88 % |
| VAT interest | sec 205c para 5 FTC | 5.88 % |
| * until 30 June 2024, in accordance with sec 323c para 13 FTC, subsequently 8.38 % | ||
The corresponding BMF (Austrian Ministry of Finance) decree of 14 September 2023 was published on 15 September 2023 in Findok. This replaces the BMF decree of 16 June 2023.
If the above-mentioned interest amounts are below EUR 50.00, they should not be assessed.
