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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On 8 December 2022, the European Commission submitted a draft for a Council Directive on the initiative “VAT in the Digital Age” (ViDA) including the long-awaited proposals for modernising VAT rules in the EU. On 5 November 2024, these were adopted unanimously by the Council of the European Union. In general, the proposal for the […]
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In October 2024, due to the Austrian Progression Compensation Act 2025, there was an amendment to the UStG. Furthermore, the European Commission and the Council have adopted an amendment to the EU Deforestation Regulation. Amendment to the UStG The turnover limit for the applicability of the small business exemption will be raised from EUR 42,000 […]
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The BMF confirms that deposits on one-way packaging are not part of the taxable base for Value Added Tax (VAT) purposes for the concerned beverage deliveries and are therefore not subject to VAT. Also, returning the deposit amounts when returning the one-way beverage packaging is not subject to VAT. Description As of 1 January 2025, […]
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Since January 2024, an amendment in connection with the Intrastat reporting obligations is applied regarding distance sellers located outside of Austria. Amendment as of the reporting year 1 January 2024 No Intrastat declaration obligation applies anymore as of the reporting year 1 January 2024, if economic operators not located in Austria arrange for intra-Community distance […]
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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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The VwGH (27/03/2024, Ro 2023/13/0018) has largely confirmed ruling of the tax court at first instance and confirmed that the current law conflicts with CJEU case law and EU primary law (see our newsletter), but has solved the technical aspects of the income attribution in such a “sister” tax group differently. Facts and circumstances A […]
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No consensus reached by ECOFIN on 14 May 2024 on the compromise proposal On 8 May 2022, the European Commission submitted a draft for a Council Directive on the initiative “VAT in the Digital Age” (ViDA) including the long-awaited proposals for modernising VAT rules in the EU. In general, the proposal for the Council Directive […]
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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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The European Commission has adopted new de-minimis regulations on 13 December 2023. A significant amendment is the increase of the de-minimis ceilings, in order to cater for rising inflation. Background State aid or aid of any kind granted from state funds are subject to EU State aid law. In case such State aid limits or […]
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