Compensation for Losses III

The Guidelines on the Grant of Compensation for Losses III were published in the Austrian Federal Law Gazette on 23 December 2021. In the following entry, we provide information on the most important points (last updated 7 February 2022). General prerequisites for application Companies which have their legal seat or permanent establishment (PE) in Austria, […]

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Revenue shortfall bonus III

The revenue shortfall bonus (“RSB”) is familiar subsidy that has been extended for a second time. The Ordinance on the Revenue Shortfall Bonus III was published in the Austrian Federal Law Gazette on 2 December 2021. In the following entry, we provide information on the most important points (last updated 7 February 2022): General requirements […]

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Compensation for Losses II

The Guidelines on the Extension of the Grant of Compensation for Losses were published in the Austrian Federal Law Gazette on 28 July 2021 and amended on 23 December 2021. In the following entry (last updated 7 February 2022), we provide information on the most important points. General prerequisites for application Companies which have their […]

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OECD Transfer Pricing Guidelines 2022

The OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (OECD Transfer Pricing Guidelines) provide orientation when applying the arm’s length principle. On 20 January 2022, the OECD published a new version of these Transfer Pricing Guidelines. It is available in English and French on the OECD website. The OECD Transfer Pricing Guidelines 2022 replace […]

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Public Country-by-Country Reporting

On 21 December 2021, a new EU Directive (“Directive (EU) 2021/2101”) entered into force, amending the EU Accounting Directive. Under the Directive, companies are required to publish a so-called “report on income tax information” (also referred to here as “Public CbCR”). The goal of Public CbCR is to introduce an instrument for increasing transparency and enhancing […]

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Anti-Tax Avoidance Directive (ATAD 3): Planned mandatory reporting of EU shell entities to tax authorities from 2024

Shortly before the end of 2021, the European Commission (EC) presented a proposal for an Anti-Tax Avoidance Directive (so-called “ATAD 3”) to prevent the misuse of shell (or letterbox) entities. The planned directive envisages extensive reporting obligations for shell entities, which may potentially lead to a loss of tax benefits (e.g. arising from application of […]

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Pitfalls when valuating goods for customs purposes under customs legislation

Here we discuss various issues related to customs legislation which frequently cause problems from a tax advisory perspective. To protect yourself from higher charges and liability under tax criminal law, special attention needs to be paid to these issues to ensure that all relevant values have been recognised in the customs declaration. Here we provide […]

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Austrian case law: Asset deal constitutes a new lease agreement for VAT purposes

The Austrian Supreme Administrative Court (VwGH) has decided that in the event of an asset deal (e.g. sale of a building) with singular succession (rights transferred individually), a new lease agreement is created for VAT purposes. In practice, this means that after the sale, a lease of business premises that is subject to VAT is […]

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Proposal for an EU Directive on ensuring a global minimum level of taxation (‘Pillar 2’)

On 22 December 2021, the European Commission published its proposal for a Council Directive to introduce a global minimum effective tax rate for large multinational groups and large-scale domestic groups operating in the European Union. This is intended to implement the OECD Pillar 2 rules (‘Model Rules’) in the EU Member States. The OECD Model Rules were […]

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Austrian National Council approves COVID-19 support measures in tax law

On 21 December 2021, the Austrian Parliament passed two legislative packages on pandemic-related support measures. These concern both tax relief in the Income Tax Act (EStG), Corporate Income Tax Act (KStG), VAT Act (UStG) and others, as well as simplifications in connection with tax payments. Here we have provided an overview of the key points: Income […]

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