The Carbon Border Adjustment Mechanism(CBAM) is a fundamental part of the “Fit for 55” package. This initiative aims to reduce net greenhouse gas emissions by 55% by 2030 (as compared to emissions in 1990) and to become a climate-neutral continent by 2050. The proposal for a carbon border adjustment mechanism was presented in July 2021. […]
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The energy costs subsidy is a subsidy programme of the Austrian Federal Government to support energy-intensive companies in Austria in light of currently high energy prices. After the Austrian Federal Government published the first details of its energy costs subsidy guidelines at the end of September 2022 and obtaining the approval of the European Commission […]
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In late September 2022, initial details of the energy costs subsidy were published (see newsletter of 29 September 2022). The relevant guidelines themselves have not yet been published and are currently subject to review by the European Commission (notification procedure). Approval is expected in the coming days. According to the recent press release of the Austrian […]
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In July 2022, the Business Energy Costs Subsidy Act (UEZG, BGBl. I No. 117/2022) was passed by the Austrian Parliament and published in the Federal Law Gazette (see Newsletter of 14 July 2022). The Act provides for relief for energy-intensive companies. Specifically, this non-repayable subsidy is intended to cover roughly a third of the additional costs […]
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On 6 July 2022, the Austrian Parliament passed the Business Energy Costs Subsidy Act (UEZG). The approval of the Federal Council followed on 13 July 2022. It remains to be seen whether the European Commission will approve or at least not block the legislation, with publication in the Federal Law Gazette to follow. The declared goal of […]
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Austrian ordinances regarding the various COVID-19 subsidies contain a range of bans, restrictions, and limitations applicable to dividend and bonus payments, some of which have already expired. This article provides a brief overview of the current COVID-19 subsidies, as well as the restrictions on distributions and bonus payments that still need to be observed in […]
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From 1 April 2022, Austrian SMEs will be eligible to receive an attractive cybersecurity subsidy in the form of a non-repayable grant for investments of up to EUR 50,000. Cybercrime has become an important issue for Austrian businesses in the past year due to several high-profile ransomware attacks. This is also borne out by a PwC Digital […]
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To continue to support Austrian companies which have suffered financially from the impacts of the coronavirus pandemic, the Austrian Federal Government has extended existing COVID-19 subsidy instruments and made some requirements more stringent. In the following contribution (last updated 14 February 2022), we will inform you about the most important points of the previous COVID-19 […]
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The Austrian Ministry of Finance has announced that certain existing COVID-19 subsidies will be extended due to ongoing Covid-related restrictions. In the following entry (last updated 7 February 2022), we provide information about the most important points: Revenue shortfall bonus III The revenue shortfall bonus was extended again (“RSB III”) and is available for the months November 2021, December 2021, […]
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The Guidelines on the Grant of Compensation for Losses III were published in the Austrian Federal Law Gazette on 23 December 2021. In the following entry, we provide information on the most important points (last updated 7 February 2022). General prerequisites for application Companies which have their legal seat or permanent establishment (PE) in Austria, […]
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