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 May, a further increase of […]

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Corporate Law Amendment Act 2023 (GesRÄG 2023, Gesellschaftsrechts-Änderungsgesetz 2023): Introduction of Flexible Company and reduction of minimum share capital to EUR 10,000 for Limited Liability Companies

Start-upn 26 May 2023, along with the Austrian Start-ups Promotion Act (Start-up-Förderungsgesetz), the draft GesRÄG 2023 was published, which aims to create considerable incentives and relief for start-ups and the incorporation of companies in general. In particular, the new company form called Flexible Company (FlexCo) will be introduced and investments in such a company will […]

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DAC 7 is in force: Quick remediation of past “errors” highly recommended!

Starting with 2024 the Austrian tax authority receives information on persons using digital platforms for renting and selling. If you use digital platforms for renting and selling you should absolutely keep an eye on the following amendment: The Austrian Digital Platform Reporting Requirement Act (DPMG) entered into force on 1 January 2023. The DPMG requires […]

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Austrian Income Tax Guidelines Amendment Decree 2023 published

On 31 March 2023, the Austrian Federal Ministry of Finance published the approx. 360-page final Income Tax Guidelines Amendment Decree 2023. This decree is intended to update the Austrian Income Tax Guidelines (EStR), in particular by incorporating the changes from the Austrian Ecosocial Tax Reform Act 2022 Part I (ÖkoStRefG), the Austrian Tax Amendment Act […]

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Foreign Subsidies Regulation – Expanded EU State aid rules

On 12 January 2023, the new regulation on foreign subsidies (Foreign Subsidies Regulation, “FSR”) agreed by the European Parliament and the Council entered into force. The FSR is intended to enable the identification and redress of possible distortions in the EU internal market caused by foreign subsidies to companies operating in the EU. According to […]

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Subsidy guideline for energy costs subsidy 1 – Q4 2022 and details on the lump-sum energy costs subsidy have been announced

Already at the beginning of the year, the National Council resolved to extend energy costs subsidy 1, which was originally planned to run until September 2022. Now the guideline has been published just in time for the start of the application period on 17 April 2023. More details have also been announced with regard to […]

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Quota system: Extension of submission deadline for 2021 tax returns

29The grace period for taxpayers with tax representation to submit tax returns for 2021 has been extended by the Austrian Ministry of Finance from one month (31 March to 30 April 2023) to six months (30 September 2023). Tax returns (e.g. individual and corporate income tax returns or annual VAT returns) must be submitted by […]

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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. The European Central Bank raised its key interest rate effective as of 22 March 2023. Due to the […]

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Update on energy costs subsidies I and II for companies and the lump-sum energy costs subsidy for small enterprises

The energy costs subsidy was introduced last year to cover a portion of the extra costs resulting from the exceptionally sharp increase in energy prices, and in this way to relieve companies. Further measures to combat the ongoing inflation have been passed and new details communicated. Extension of energy costs subsidy I Energy costs subsidy […]

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Russia added to EU’s “blacklist”

Special attention necessary where Russian participating interests are involved The most recent meeting of the EU finance ministers (ECOFIN) resulted in changes to the list of non-cooperative jurisdictions for tax purposes. On 14 February 2023, the finance ministers of the EU member states resolved to add four jurisdictions to the blacklist. Besides the Russian Federation, […]

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