Treaty between Austria and Romania: Romanian Ministry of Finance Clarifies Taxation of Interest
The Romanian Ministry of Finance (MoF) issued Circular No. 674003 on 20 January 2015, expounding the taxation of interest payments under the Austria-Romania Income and Capital Tax Treaty. Main Changes are: According to article 11, paragraph 2 of
See MoreFrance and Austria Seek To Launch FTT In 2016
France and Austria sought to break deadlocked talks with nine other European countries for a financial transaction tax, by proposing a broader financial transaction tax with a lower rate, in an attempt to push forward delayed plans for a European
See MoreAustria: Ministry of Finance publishes report from Tax Reform Commission
The Austrian Ministry of Finance published a report by the Tax Reform Commission on 12 January 2015. The Tax Reform Commission consists of members from the coalition parties and the report was prepared in 2014. The report comprises several proposals
See MoreProtocol to treaty between Austria and Tajikistan approved by Tajikistan
Tajikistan's parliament approved the amending protocol on 7 January 2015 which was signed on 13 March 2013, to the Austria - Tajikistan Income and Capital Tax Treaty (2011). Further details of the protocol will be informed
See MoreTaiwan: Income tax treaty with Austria enters into force
The Double Tax Agreement (DTA) between Taiwan and Austria entered into force on 20 December 2014. Most of the treaty articles are applied from 1 January 2015. The agreement was signed on 12 July 2014. Under the provisions of the treaty the
See MoreAustria: Approves draft version of 2nd Tax Law Amendment Act 2014
The government of Austria approves a draft version of the 2nd Tax Law Amendment Act 2014 (2. Abgabenänderungsgesetz 2014) on 18 November 2014, it also submitted for parliamentary
See MoreAustria: Gets an extra year to fully comply with Automatically Exchange Tax Data
The EU's council in Luxembourg on 16 October 2014 at a meeting the finance ministers decided that Austria being granted an extra year to improve the infrastructure desired to comply with the new law. Under the new law tax authorities in the EU will
See MoreAustria: Published draft version of 2nd Tax Law Amendment Act 2014
The Ministry of Finance published a draft version of the 2nd Tax Law Amendment Act 2014 on 1 October 2014, and submitted it for professional review. The 2nd Tax Law Amendment Act 2014 is the introduction of the Law on Mutual Assistance in Fiscal
See MoreAustria: planning for Restructuring Tax Administration
Austrian Finance Minister planning for greater fiscal sovereignty for the federal states and municipalities, to decrease administrative costs and finance tax cuts for low earners. He also said that, “tax sovereignty should pass from Government to
See MoreAustria: Government adopts draft bill modifying the Fiscal Criminal Act
The Government approved a draft bill modifying the Fiscal Criminal Act 2014 on 11 June 2014, and submitted it for legislative consultations. The draft bill relating to changes the voluntary disclosure rules, and purposes to completion the practice
See MoreAustria Lowers Business Taxes in Federal Budget
The Austrian budget for 2014 aims to decrease the labor costs incurred by business and has also proposed the abolition of the capital transfer tax. Wage costs will be lowered by means of a decrease of 0.1 percent in the accident insurance
See MoreAustria Focuses on Income Tax Reform
The Austrian Government intends to go ahead with proposals to simplify the income tax system by the second half of 2014, the Finance Minister has announced. He commented that payroll taxes in Austria are too complex and place a compliance burden on
See MoreAustrian Unions drive for lower income tax rates
The President of the Austrian Federation of Trade Unions (ÖGB) has suggested that the income tax on low income employees should be significantly reduced. He suggested that the government should decrease the starting rate of income tax from the
See MoreGuernsey expects to sign a DTA with Austria
According to the Guernsey Government, Guernsey expects to sign a double taxation agreement (DTA) with Austria on May 14, 2014. No further details are currently
See MoreDTA between Austria and Taiwan
On February 20, 2014, Austria and Taiwan initialed a double taxation agreement (DTA) following three days of negotiations. No further details are currently
See MoreAustria: Tax Increases
The National Council of Austria has adopted with minor changes the Government's Tax Amendment Act, providing for a number of tax increases. The Tax Amendment Act increases the standard consumption tax, the motor vehicle tax, and the tobacco tax. The
See MoreAustria: Information regarding intangible property and financial services
From 1st March 2014, interest and royalty payments to certain related parties are not deductible for tax purposes if the recipient corporation is not subject to tax due to an exemption; is subject to a nominal or specific tax rate of less than 10%
See MoreAustria’s Finance Minister clarifies FTT Start in 2016
Austria’s Finance Minister has clarified that a European Union (EU) financial transactions tax (FTT) will not come into effect until at least 2016. Austria’s State Budgets for 2014 and 2015 will reflect the delays and will not make provision for
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