Tax issues for international companies in Austria
No consensus reached by ECOFIN on 14 May 2024 on the compromise proposal On 8 May 2022, the European Commission submitted a draft for a Council Directive on the initiative “VAT in the Digital Age” (ViDA) including the long-awaited proposals for modernising VAT rules in the EU. In general, the proposal for the Council Directive […]
read more
On 3 May 2024, the Austrian Ministry of Finance (BMF) published a draft of the AbgÄG 2024 (Austrian Tax Amendment Act 2024; AbgÄG 2024). This draft includes, in particular, the following significant amendments: Income tax With the AbgÄG 2023, contributions of a partner into its partnership are treated two- sided for income tax purposes: Whilst […]
read more
On 4 April 2024, the Austrian Federal Ministry of Justice published the consultation draft on the “Austrian Federal Act on the Publication of Country-by-Country Reports (CbCR) on Income Tax Information”. This legislation transposes Directive (EU) 2021/2101 amending the EU Accounting Directive regarding the publication of income tax information by specific companies and branches into Austrian […]
read more
The Austrian Federal Economic Chamber (WKÖ) has reduced the assessment rates for the contribution to the Austrian Economic Chambers as of 1 January 2024. New assessment rates KU2 The assessment rates of KU2 were reduced for Lower Austria (previously 0.24%), Salzburg (previously 0.25%), Vorarlberg (previously 0.23%) as well as for the WKÖ (previously 0.14%):
read more
In its decision dated 24 January 2024 (RV/1100179/2019), the Austrian Federal Financial Court (BFG) confirms the strict view of the Austrian tax authorities that, in order to be granted relief from capital gains tax (KESt) at source based on the applicable double taxation agreement, it is compulsory for the certificate of residence to be submitted […]
read more
As of 1 January 2024 the new and tax-free “employee bonus” was implemented by the legislator. In contrast to the cost-of-living bonus, the new employee bonus must be fully paid on the basis of a wage-setting regulation. The regulations for the previous cost-of-living bonus have expired with 31 December 2023. The newly established employee bonus […]
read more
Within the framework of the BEPS 2.0 project a preliminary report on Pillar One – Amount B (launch version) was published on 19 February 2024 as a response to the public consultation documents (December 2021 & July 2023). The final report, including the outstanding work currently being completed, was expected by the end of March […]
read more
The general deadline for submitting the required settlement based on actual costs for the second subsidy period (1 July to 31 December 2023) should have started on 15 February 2024 according to the guideline on the energy cost subsidy II. However, according to the information provided by the Federal Ministry of Labour and Economy (BMAW) […]
read more
Just in time for the turn of the year, the Minimum Tax Act was published in the (digital) Austrian Federal Law Gazette I on 30 December 2023, thus completing the legislative process. Overview The statutory provisions entered into force on 31 December 2023 and are applicable to financial years beginning on or after 1 January […]
read more
It should soon be possible to submit the final settlement regarding the energy cost subsidy II – do not miss the submission deadlines. Deadlines As applying for the energy cost subsidy II was possible until 7 December 2023, the applicant companies should have received the (conditional) subsidy approval by now. The companies are obliged to […]
read more
