BMF (Austrian Federal Ministry of Finance) on value added tax on one-way packaging
The BMF confirms that deposits on one-way packaging are not part of the taxable base for Value Added Tax (VAT) purposes for the concerned beverage deliveries and are therefore not subject to VAT. Also, returning the deposit amounts when returning the one-way beverage packaging is not subject to VAT. Description As of 1 January 2025, […]
Decree issued by the Austrian Ministry of Finance (BMF) – Decrease of interest rates
Due to the decrease of the main refinancing operations rate by the European Central Bank, the amount of the deferral interest, interest for suspension, claim interest (interest for subsequent payments and credits), appeal interest as well as VAT interest is adjusted in the Austrian Federal Tax Code (FTC). Moreover, the amount of the refund interest […]
Intrastat – New developments when using the One Stop Shop (EU OSS) for distance sellers located outside of Austria
Since January 2024, an amendment in connection with the Intrastat reporting obligations is applied regarding distance sellers located outside of Austria. Amendment as of the reporting year 1 January 2024 No Intrastat declaration obligation applies anymore as of the reporting year 1 January 2024, if economic operators not located in Austria arrange for intra-Community distance […]
Electricity levy when using self-generated electricity from renewable energy sources
The Austrian Government has continuously simplified and promoted using self-generated electricity from renewable energy sources (e.g. installing and operating photovoltaic systems) via several measures for companies as well. However, tax-related issues must be addressed if self-generated electricity is used e.g. via a photovoltaic system. Legal Background In principle, the supply and the use of electrical […]
Green hydrogen in the spotlight: everything you need to know about the new planned investment subsidy
The planned initiative aims at promoting the development and implementation of hydrogen technologies, thus making an essential contribution to the energy transition and to climate protection. Pursuant to the Austrian Renewables Expansion Act (EAG) that became effective in 2021, investment subsidies will be used to promote the constructions of new plants converting electricity to hydrogen […]
Do not miss a single chance: Important deadlines for funding applications for the Transformation of the Industry
We would like to remind you that the deadlines for the submission of funding applications within the climate and transformation offensive of the Federal Ministry for Climate Action, Environment, Energy, Mobility, Innovation and Technology (BMK) are approaching. Important deadlines 19 September 2024: Submission deadline for investment funding – Transformation of the Industry; 31 October 2024: […]
“Pillar One – Amount B” – Publication of covered jurisdictions and qualifying jurisdictions
Within the framework of the BEPS 2.0 project, the report on Pillar One – Amount B (“Report on Amount B” or “the Report”) was published on 19 February 2024 and incorporated as an Annex to Chapter IV of the OECD Transfer Pricing Guidelines (for further details, please see our previous newsletter). Two supplements to the […]
The Austrian Tax Amendment Act 2024 has been published on 10 July 2024. The key changes of the Austrian Tax Amendment Act 2024 were already covered by our newsletter dated 8 May 2024 based on the draft. During the review process, the Austrian Tax Amendment Act 2024 was subject to the following amendment: Income Tax […]
Advancing sustainability: Funding opportunities for climate-friendly technologies
Transformation of the Industry The Austrian Federal Ministry for Climate Action, Environment, Energy, Mobility, Innovation and Technology (BMK) recently launched the second call for tenders for the Climate and Transformation Initiative to support the programme “Transformation of the Industry”. This funding programme is intended to support Austrian industrial companies in adopting climate-friendly technologies in their […]
Partial suspension of double tax agreement between Austria and Belarus
For the period June 2024 to December 2026 the application of Article 10 (dividends), Article 11 (interest) as well as Article 13 (gains from the alienation of property) of the double taxation agreement are suspended in both countries, resulting in a double taxation risk for Austria-Belarus transactions. For the period 1 June 2024 to 31 […]
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