Austrian companies currently face rising energy costs, which may also impact their liquidity in the short term. For this reason, the Austrian Ministry of Finance (“BMF”) stated on 1 April 2022 that it will be possible to simplified reduce prepayments of individual and corporate income tax in administrative terms. The taxpayer must be able to credibly […]
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Tax returns (e.g. individual and corporate income tax returns or annual VAT returns) generally have to be submitted by 30 June of the following year (if submitted electronically). The tax authority may extend the deadline for submission of tax returns on a case-by-case basis (discretionary decision) following a substantiated request (individual extension of submission deadline). If […]
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Since the beginning of the COVID-19 pandemic, many companies have made use of simplified payment options – in particular, deferred payments. Tax liabilities that were due by 31 May 2021 have been automatically included in approved deferrals. The deferred tax liabilities are now due by 30 June 2021. To avoid payment difficulties, a special application for a […]
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Reminder: Down payments to avoid claim interest for corporate income tax and individual income tax for the year 2019, as well as applications for the reduction of pre-payments for corporate income tax and individual income tax 2020, need to be made by 30 September 2020! Applications for reductions due to COVID-19-related revenue losses can continue to be […]
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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 […]
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In the following, we provide an overview of the implications of the 2nd Austrian COVID-19 Act and the latest BMF information for tax assessment and appeal procedures (deadlines). This entry was last updated on 25 March 2020 and includes the latest information available to us. TAX RETURN DEADLINES Annual tax returns Generally, tax returns (e.g. income tax, […]
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The Austrian Ministry of Finance (BMF) has introduced facilitations for tax payments, which will relieve the liquidity situation of taxpayers affected by the coronavirus epidemic. Taxpayers need to credibly demonstrate that the measures introduced by the authorities (stay-at-home policies, as well as the closure of educational institutions, cancellation of events, and general restrictions on daily […]
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