On 14 March 2020, the Finance Ministry published a Decree regarding the support for companies during the period of coronavirus effect. Finance Ministry also published a Form by which businesses can apply for tax relief in this situation. The tax relief covers the following aspects:
Reduction of advance payments
In order to improve the liquidity of companies, they can have the advance payments of income or corporate tax reduced to zero.
Waiver of arrears interest
If subsequent tax claim results from an income or corporate income tax assessment notice, arrears interest will be determined for such subsequent claims. These can be waived for affected companies.
Payment facilitation
The date of payment of a duty may be postponed (deferral), or payment in installments may be agreed to.
Reduction of late payment surcharges
A late payment surcharge is normally payable for a tax debt not paid by the due date. Affected companies can have this reduced or request the interest to be waived.
VAT payment
Austria has implemented a VAT payment and penalty deferment application scheme for businesses directly affected by the Covid-19 outbreak.
