Tax issues for international companies in Austria
In the following, we provide an overview of the implications of the 2nd Austrian COVID-19 Act and the latest BMF information for tax assessment and appeal procedures (deadlines). This entry was last updated on 25 March 2020 and includes the latest information available to us. TAX RETURN DEADLINES Annual tax returns Generally, tax returns (e.g. income tax, […]
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The official measures to combat coronavirus lead to questions about the VAT-related consequences of these measures. Uncollectible amounts and rent reductions for business premises during the COVID-19 crisis also need to be treated correctly from a VAT perspective. Compensation, cancellation fees, and frustrated expenditure Many congresses, events, concerts, trips etc. had to be cancelled due […]
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The Austrian Ministry of Finance (BMF) has introduced facilitations for tax payments, which will relieve the liquidity situation of taxpayers affected by the coronavirus epidemic. Taxpayers need to credibly demonstrate that the measures introduced by the authorities (stay-at-home policies, as well as the closure of educational institutions, cancellation of events, and general restrictions on daily […]
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The economic consequences of the COVID-19 outbreak mean that it is now undesirable to place additional burdens on consumers and businesses by increasing the tobacco tax. The changes in tobacco tax rates for cigarettes, fine-cut tobacco, and heated tobacco products, were set out in the Austrian Tax Reform Act 2020, BGBI. I Nr. 103/2019, and […]
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COVID-19 also has consequences for foreign trade. This entry was updated on 23 March 2020 and reflects the information currently available to us. Due to the worldwide crisis caused by the coronavirus SARS-CoV-2, the global demand for protective medical equipment has increased significantly. In this context, the European Commission has introduced an authorisation requirement for […]
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Due to current developments, we would like to draw your attention to the fact that no additional notification of the tax office is required in relation to the cash register reporting obligation, if the suspension of business activity is merely temporary (e.g. temporary closure due to the coronavirus prevention measures). For the reporting requirements regarding […]
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The UBO Register Act (WiEReG), announced on 15 September 2017, imposes a registration obligation on Austrian corporate entities and other legal entities regarding their ultimate beneficial owners. As of 15 January 2018, all direct or indirect owners holding more than 25 % of the share capital have to be disclosed in the new register maintained by […]
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