Austria: Tax Reform Working Group
The Austrian Government has set up a working group for tax reform, with a view to submit reform recommendations by the end of 2014. The specific reform objectives have already been set out in the coalition agreement, and the planned reforms will
See MoreAustria: draft 2014 bill amending Tax Acts
The Austrian Ministry of Finance, published the 2014 Tax Amendment Act (Abgabenänderungsgesetz 2014; AbgÄG 2014), on 9 January 2014. This amending law will make changes to certain Austrian Tax Acts, as follows: Limiting tax deductibility of
See MoreAustria: Special taxes increased
Austria published draft legislation to increase the tax rate for the special bank levy to 0.09% for assets above EUR 1 billion and 0.11% for those above EUR 20 billion. The draft, which has yet to be agreed upon in parliament, also includes other
See MoreAustria: “Provisional” Budget submitted
The Austrian Government has submitted a provisional budget for 2014 to the Austrian National Council; the proposals broadly follow the coalition accord. Tax rises are proposed in the motor vehicle insurance tax and on alcohol and tobacco, and for
See MoreAustria: Chancellor says tax reform is first priority
The Austrian Chancellor has clarified that his number one priority is to reform the country’s tax system, as soon as there is scope to do so. The Chancellor highlighted that he will push for the fiscal reform to be financed by wealth taxes. The
See MoreDTA between Austria and Slovenia
Austria completed its domestic ratification procedures on 26 November 2013, in relating of the amending protocol to the double tax agreement (DTA) signed with Slovenia, and the protocol entered into force on that date. The protocol includes detailed
See MoreAustria – Legislates rapid reaction reverse charge on VAT fraud
Austria has the new mechanism to enable member states to change reporting and VAT obligations at short notice were brought into place. This instrument allows member states to gain consent from the European Commission within 30 days to apply the VAT
See MoreProtocol to tax agreement between Austria and Hong Kong enters into force
According to a press release of 18 October 2013, the amending protocol on Income and Capital Tax agreement between Austria and Hong Kong, signed on 25 June 2012, entered into force on July
See MoreProtocol to DTA between Austria and Canada signed
A second protocol to the Austria –Canada Income Tax Treaty which was signed on 1 March 2012 will enter into force on 1 October 2013. The protocol contains provisions for the exchange of tax information and will have effect in accordance with the
See MoreAustria: From July 2013 Amendments’ to Limited Liability Company Act
Austria has passed an amendment to the Limited Liability Companies Act from 1st July 2013 with the aim of reducing the costs connected with setting up an Austrian limited liability company. A new provision has also been introduced into the
See MoreAustria:Corporate tax guidelines limit interest deductions
The Austrian Ministry of Finance published revised corporate income tax guidelines in March 2013, to tightening the rules with respect to interest deductions in connection with “debt push-down models” and concerning tax loss carry forwards
See MoreDouble Taxation Agreement (DTA) between Austria and Chile
Austria and Chile signed a bilateral Double Taxation Agreement (DTA) on 6 December 2012.The treaty is intended to provide greater transparency and certainty in tax matters for Austrian companies which are active in Chile. This DTA is regarded as an
See MoreAustria, a place with real location advantages for doing business
Before 2005, the corporate tax rate of Austria was 34%. But in 2005 the government reduced the corporate tax rate by 9%, from 34% to 25%, which brought a significant increase in tax revenue despite the lower rate. The favorable corporate tax rate
See MoreCzech Senate approves a Protocol to add tax information exchange provisions to the nation’s DTA with Austria
On October 25, 2012, according to media reports, the Czech Senate approved a Protocol to add tax information exchange provisions to the nation's double taxation agreement (DTA) with
See MoreAustria and Romania signed a DTA Protocol
On October 1, 2012, Austria and Romania signed a Protocol to the double taxation agreement (DTA) between the two countries to add provisions for the exchange of tax information in line with international
See MoreAustria and Montenegro initialled a DTA
According to media reports, on September 19, 2012, Austria and Montenegro initialled a double taxation agreement
See MoreAustria’s financial police enforce tax compliance
Austria’s Finance Minister Maria Fekter has recently underlined the key role of the country’s financial police in enforcing payment of due taxes and thereby ensuring tax justice in Austria. Alluding to the fact that the financial police now play
See MoreAustria and Cyprus signed a Protocol to amend their existing DTA
According to the Austrian government, Austria and Cyprus signed a Protocol to amend their existing 1990 double taxation agreement (DTA) on May 21,
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