The global minimum tax (Pillar II) entails not only complex calculations but also various compliance obligations. Although the filing of the GloBE Information Return and the Austrian Pillar II advance notification is not due until 2026, one compliance issue may already require action by December 31, 2024. The Pillar II rules are applicable from January […]
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The EU Deforestation Regulation (EU) 2023/1115 (EUDR) enters gradually into force as at 1 January 2025. Without prior submission of a due diligence statement, companies are not permitted to place the respective products on the market or to export them. The EUDR replaces the EU Timber Regulation (EU) 995/2010, which is currently in force. It […]
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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 […]
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With effect from 1 January 2024, the financing of the ORF was newly regulated. The ORF Contribution Act (ORF Beitrags-Gesetz) has replaced the Gebühren Info Service GmbH (GIS) fee that was payable until 31 December 2023 with the newly created ORF contribution. In this article we will take a closer look at the most important […]
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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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The Carbon Border Adjustment Mechanism(CBAM) is a fundamental part of the “Fit for 55” package. This initiative aims to reduce net greenhouse gas emissions by 55% by 2030 (as compared to emissions in 1990) and to become a climate-neutral continent by 2050. The proposal for a carbon border adjustment mechanism was presented in July 2021. […]
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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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