Tax issues for international companies in Austria
On 6 July 2023, The Austrian National Council passed the Austrian Tax Amendment Act 2023 (AbgÄG 2023), including multiple reforms, some of which will be presented in more detail. New rules included in the Austrian Reorganisation Tax Act The Austrian Company Law Mobility Act will implement the EU Mobility Directive, providing for more flexibility on […]
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According to the European Commission, approximately 70% of retail investors waive claims for refunds and 30% of retail investors sell their foreign EU stocks due to complicated refund procedures for WHT. On 19 June 2023 the Commission has published a proposal for a Directive for simplifying withholding tax procedures on interest and dividends, which shall […]
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Young, innovative and growing start-up companies often do not dispose of the necessary financial means to be able to offer monetary incentives to committed employees. The possibility of granting company shares to employees through employee share purchase plans is not particularly profitable given the current legal situation, since employees have to pay income tax when […]
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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 May, a further increase of […]
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Start-upn 26 May 2023, along with the Austrian Start-ups Promotion Act (Start-up-Förderungsgesetz), the draft GesRÄG 2023 was published, which aims to create considerable incentives and relief for start-ups and the incorporation of companies in general. In particular, the new company form called Flexible Company (FlexCo) will be introduced and investments in such a company will […]
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Starting with 2024 the Austrian tax authority receives information on persons using digital platforms for renting and selling. If you use digital platforms for renting and selling you should absolutely keep an eye on the following amendment: The Austrian Digital Platform Reporting Requirement Act (DPMG) entered into force on 1 January 2023. The DPMG requires […]
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On 31 March 2023, the Austrian Federal Ministry of Finance published the approx. 360-page final Income Tax Guidelines Amendment Decree 2023. This decree is intended to update the Austrian Income Tax Guidelines (EStR), in particular by incorporating the changes from the Austrian Ecosocial Tax Reform Act 2022 Part I (ÖkoStRefG), the Austrian Tax Amendment Act […]
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On 12 January 2023, the new regulation on foreign subsidies (Foreign Subsidies Regulation, “FSR”) agreed by the European Parliament and the Council entered into force. The FSR is intended to enable the identification and redress of possible distortions in the EU internal market caused by foreign subsidies to companies operating in the EU. According to […]
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Already at the beginning of the year, the National Council resolved to extend energy costs subsidy 1, which was originally planned to run until September 2022. Now the guideline has been published just in time for the start of the application period on 17 April 2023. More details have also been announced with regard to […]
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29The grace period for taxpayers with tax representation to submit tax returns for 2021 has been extended by the Austrian Ministry of Finance from one month (31 March to 30 April 2023) to six months (30 September 2023). Tax returns (e.g. individual and corporate income tax returns or annual VAT returns) must be submitted by […]
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