On 12 June 2024, Austria’s lower house of parliament approved Bill No. 2610 dB for consideration. This bill proposes key amendments to the Tax Amendment Act 2024.
The bill focuses on three main measures:
- Deduction of grants for income-generating assets: Grants used to establish income-generating assets can be deducted over the next nine assessment periods, along with grants in the year of application.
- CbC reporting: Pre-tax profits must be reported in country-by-country (CbC) reports and Income tax expenses in financial reports must be neutralised by specified expenses.
- EU compliance: New requirements are set for Austrian entrepreneurs operating companies within the EU.
