Austria: Ministry of Finance releases DAC6 reporting guidelines
On 12 September 2023, the Austrian Ministry of Finance published an updated guidance on the explanation and application of the rules of DAC6 in Austria. This update is a practical guide to understanding EU-MPfG compliance, based on questions and
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Austria: Government plans to increase windfall tax on oil and gas companies
On 30 August 2023, the Austrian government announced a plan to tighten the windfall tax on oil and gas companies, in an effort to reduce their profits at a time of rising energy prices. The new tax will apply to profits that exceed a pre-crisis
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Austria plans to expand the application on existing treaties under BEPS MLI
On 30 November 2022, the Austrian Council of Ministers approved the extension of the application on existing tax treaties under the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting
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Austria implements DAC7 into domestic law
On 19 July 2022, Austria published the Tax Amendment Act 2022 in the Official Gazette. Accordingly, Austria implements new reporting obligations Council Directive (EU) 2021/514 for digital platform operators (DAC7) into domestic law. The new rules
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IMF Report Considers Austria’s Fiscal Position
On 2 September 2022 the IMF published a report following the conclusion of discussions with Austria under Article IV of the IMF’s articles of agreement. The IMF report notes that Austria’s economy has recovered strongly from the problems
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Austria: MOF Updates Guidance on COVID-19 treaty Issues
On 20 June 2022, the Ministry of Finance published a Circular (no. 2022-0.433.029 of 17 June 2022) clarifying various tax treaty issues that have arisen due to the COVID-19 pandemic, including permanent establishments(PE) and the application of the
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IMF Report Considers Austria’s Economic Situation
On 13 June 2022 the IMF published a report following discussions with Austria under Article IV of the IMF’s articles of agreement. Although Austria’s economy was seriously impacted by the pandemic, partly due to the size of the tourism
See MoreAustria publishes guidance on MAP procedures under DTAs, MLI, and EU Laws
On 6 May 2022, the Ministry of Finance issued new guidelines on mutual agreement and arbitration procedures (MAP) under the Austrian double taxation agreements, the EU Arbitration Convention, the BEPS Multilateral Instrument (MLI), and the EU Tax
See MoreAustria: Ministry of Finance proposes the tax reform for 2022
On 8 November 2021, the Austrian Ministry of Finance has proposed a draft bill on the ecosocial tax reform 2022 and submitted it for consideration by the parliament and the Federal Council. Subsequently, the corporate tax rate will reduce from 25%
See MoreAustria releases the new transfer pricing guideline for 2021
On 7 October 2021, the Austrian Ministry of Finance published the updated Austrian Transfer Pricing Guidelines (Austrian Guidelines) 2021. The Austrian Guidelines 2021 are an essential interpretative aid for the application of the arm’s-length
See MoreAustria: Government publishes a Decree regarding late payment interest
On 4 June 2021, the Government published a Decree of 4 June 2021 providing the updates regarding late payment interest, suspended tax payment and others. According to the update, from 1st July 2021 to 30 June 2024, interest rate for late corporate
See MoreAustria: Parliament discusses about the delay on tax payments
Recently, the Austrian Parliament currently made a discussion regarding 2nd COVID-19-StMG. According to this, the deadline for the expiry of the general tax payments deferrals is to be postponed from 31 March 2021 until 30 June 2021. After the law
See MoreAustria: Parliament approves winter package due to COVID-19 pandemic
On 17 December 2020, the Parliament approved the COVID-19 Tax Measures Act. Recently, the Ministry of Finance has announced the draft winter package on tax measures for the coronavirus outbreak. The package includes the measures to introduce the
See MoreAustria: Finance Ministry publishes final guide regarding DAC6 reporting obligations
On 21 October 2020, the Finance Ministry published final guidance regarding the reporting requirement of cross border arrangements (DAC6). This final guide covers the definition of terms, reportable arrangements, hallmarks and main benefit test,
See MoreAustria signs MAP agreement with Sweden
On 16 October 2020, the Finance Ministry of Austria announced that Austria signed an agreement regarding the implementation of agreements concluded on the basis of Article 22 (Mutual Agreement Procedure) with Sweden. The agreement effects from 6
See MoreDAC6 Updates: Optional deferral of DAC6 reporting deadlines
On 24 June 2020, the European Council reached agreement on an optional 6-month postponement to the reporting deadlines for relevant taxpayers under EU Directive 2018/822 (DAC6), and a delay to the exchange of information under
See MoreAustria: Finance Ministry publishes a draft guide regarding the deferment of DAC6 reporting
On 20 July 2020, the Finance Ministry opened a public consultation on a draft guidance regarding the reporting requirement of cross border arrangements (DAC6). This guide covers the definition of terms, reportable arrangements, hallmarks and main
See MoreAustria: Government announces additional measures in response to COVID-19 outbreak
On 12 June 2020, the Government announced some additional measures in response to COVID-19 outbreak: VAT The Government is planning to finalize a reduced value-added tax (VAT) rate of 5% for the restaurant and culture sector due to the corona
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