Tax issues for international companies in Austria
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 […]
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The energy costs subsidy was introduced last year to cover a portion of the extra costs resulting from the exceptionally sharp increase in energy prices, and in this way to relieve companies. Further measures to combat the ongoing inflation have been passed and new details communicated. Extension of energy costs subsidy I Energy costs subsidy […]
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Special attention necessary where Russian participating interests are involved The most recent meeting of the EU finance ministers (ECOFIN) resulted in changes to the list of non-cooperative jurisdictions for tax purposes. On 14 February 2023, the finance ministers of the EU member states resolved to add four jurisdictions to the blacklist. Besides the Russian Federation, […]
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On 31 January 2023 the National Council approved the extension of the energy costs subsidy for companies as announced in the media in December 2022 (see newsletter from 3 January 2023). Specifically, the governing parties agreed to extend energy costs subsidy 1 (EKZ 1) until the end of December 2022 and to launch energy costs […]
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The Austrian Whistleblower Protection Act (HinweisgeberInnenschutzgesetz, HSchG) was finally passed by the National Council on 1 February 2023 – after the elapsed December 2021 deadline for the transposition of the EU Whistleblowing Directive. What must be observed going forward? Obligation for companies and legal entities in the public sector with more than 249 employees to […]
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As a general rule, section 13 para. 4 KStG permits Austrian private foundations to carry over hidden reserves from the sale of investments (in which the foundation or its legal predecessor held a share of at least 1% within the last five years) to substitute investments. These substitute investments must involve the acquisition of a […]
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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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According to media information, at the end of 2022 the Austrian government has decided to extend the energy costs subsidy for energy-intensive companies (see also Newsletter dated 25 November 2022) until the end of 2022 and prolong it to 2023. This is intended to ensure the competitiveness of Austrian companies as well as to strengthen […]
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The period for the mandatory advance registration for the energy costs subsidy for the subsidy period February 2022 to September 2022 ended on 28 November 2022. The government announced an additional period for the advance registration in order to allow as many affected companies as possible to receive the energy costs subsidy. According to the […]
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On EU level a EU regulation imposing a windfall tax on energy companies was adopted on 6 October 2022. On 18 November 2022 the government tabled a legislative motion for implementing two of the key measures – a cap on revenues for electricity producing companies and a “solidarity contribution” for surplus profits in the fossil […]
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