Guideline on processing late applications by COFAG under the law on state aid adopted – further payment of COVID-19 subsidies possible
During the COVID-19 pandemic, the BMF (Austrian Ministry of Finance) has paid out several aids in the form of COVID-19 subsidies pursuant to EU state aid law via the COVID-19 Finanzierungsagentur des Bundes GmbH (COFAG). In national implementation the granted application periods deviated from EU regulations resulting in initial applications submitted after 30 June 2022 […]
The draft of the guideline and the FAQ on the energy cost subsidy II were published in the version dated 8 November 2023 on the homepage of Austria Wirtschaftsservice Gesellschaft m.b.H. (aws). The guideline applies subject to national agreement and approval by the European Commission under subsidies law, which is still pending. In the following […]
Austrian Constitutional Court (VfGH): transferring responsibilities to COFAG is unconstitutional
In its decision G 265/2022-45 of 5 October 2023, the VfGH overturned several regulations regarding COFAG in the Austrian ABBAG Act as unconstitutional. In the course of its decision, the VfGH has decided that the requirements to transfer responsibilities of the state’s private-sector administration to the private legal entity COFAG were only met in part […]
Energy cost subsidy II – advance registration and basis information
Already at the end of the year 2022, first details of the energy cost subsidy II were announced (please refer to our newsletter dated 3 January 2023). The relevant guideline itself has not yet been published and is currently subject to review by the European Commission (notification procedure). The approval is expected soon. According to […]
Austrian Ministry of Finance (BMF) publishes a consultation draft for a Minimum Tax Act (MinBestG)
On 3 October 2023 the BMF has published a consultation draft for an act to ensure a Global Minimum Tax (Pillar II). The consultation period ends on 20 October 2023. The new regulations will enter into force as of 1 January 2024. The Minimum Tax Act transposes into domestic law the complex framework of the […]
Guidance on DAC6 by the Austrian Ministry of Finance (BMF) updated
On 12 September 2023 the BMF published an update on the Austrian DAC6 guidance which has been long anticipated. In addition to clarifications the guidance includes further explanations on hallmarks, on information of other intermediaries as well as on the content of the report. Background In mid-October 2020 the Austrian BMF has published a guidance […]
Update on the DTA Austria-Germany: new provision on cross-border workers and implementation of the MLI
The provision on cross-border workers has been adapted by the protocol of amendment to the DTA between Austria and Germany to enhance the tax framework for mobility of work close to border. Additionally, several provisions have been adjusted to the new OECD standards. New provision on cross-border workers The provision on cross-border workers is a […]
Austrian Federal Tax Code (FTC) – increase of interest rates
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 July, a further increase of 0.25% […]
The new “EU tax group” for company groups: BEFIT proposal for a directive has been published
On 12 September 2023 the European Commission has published the proposal for a directive for a European framework for corporate income taxation (“Business in Europe: Framework for Income Taxation”; BEFIT). BEFIT contains a proposal for the introduction of a Europe-wide tax group including a partially single tax base for certain large groups of companies in […]
Disclosure of the financial statements until 30 September 2023
Management of corporations with balance sheet date as of 31 December be careful: In order to avoid heavy fines, take care to disclose the financial statements with the Austrian Commercial Court on time until 30 September 2023. Mandatory disclosure obligation Management of corporations (GmbH, AG, SE) partnerships, without natural persons being personally liable (e.g. GmbH […]
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