Electricity levy when using self-generated electricity from renewable energy sources
The Austrian Government has continuously simplified and promoted using self-generated electricity from renewable energy sources (e.g. installing and operating photovoltaic systems) via several measures for companies as well. However, tax-related issues must be addressed if self-generated electricity is used e.g. via a photovoltaic system. Legal Background In principle, the supply and the use of electrical […]
The Austrian Tax Amendment Act 2024 has been published on 10 July 2024. The key changes of the Austrian Tax Amendment Act 2024 were already covered by our newsletter dated 8 May 2024 based on the draft. During the review process, the Austrian Tax Amendment Act 2024 was subject to the following amendment: Income Tax […]
New due diligence and reporting obligations for imports and exports as of 1 January 2025
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 […]
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 […]
The new employee bonus – what needs to be considered?
As of 1 January 2024 the new and tax-free “employee bonus” was implemented by the legislator. In contrast to the cost-of-living bonus, the new employee bonus must be fully paid on the basis of a wage-setting regulation. The regulations for the previous cost-of-living bonus have expired with 31 December 2023. The newly established employee bonus […]
Minimum Tax Act (MinBestG) published in the Austrian Federal Law Gazette (BGBl)
Just in time for the turn of the year, the Minimum Tax Act was published in the (digital) Austrian Federal Law Gazette I on 30 December 2023, thus completing the legislative process. Overview The statutory provisions entered into force on 31 December 2023 and are applicable to financial years beginning on or after 1 January […]
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 […]
Belgian certificates of residence issued electronically accepted by Austrian Ministry of Finance (BMF)
On 21 June 2023, a consultation agreement between Austria and Belgium on the mutual recognition of certificates of residence was concluded. Therefore, certificates of residence issued separately by the Belgian (and Austrian) tax authorities are to be recognised in future for relief at source or in the refund procedure. From an Austrian perspective, the consultation […]
On 6 July 2023, The Austrian National Council passed the Austrian Tax Amendment Act 2023 (AbgÄG 2023), including multiple reforms, some of which will be presented in more detail. New rules included in the Austrian Reorganisation Tax Act The Austrian Company Law Mobility Act will implement the EU Mobility Directive, providing for more flexibility on […]
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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