Taxes - Accounting

Austria

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Tax Rates | Accounting Rules

Tax Rates

Consumption taxes

Nature of the tax: Value Added Tax (VAT)
Tax rate: 20%
Reduced tax rate: A reduced rate of 10% applies to some basic goods such as food, agricultural products, rents, tourist services, public utilities (except electricity) and entertainment.
Other consumption taxes: Excise duties are also levied on certain products, especially on spirits.
- To get further information on the VAT rates in Austria, please check the list of vat rates applied within the European Union, as well as the Austrian Ministry of Finances web site.
- More detailed information on excise duties is available concerning alcoholic beverages, tobacco products, energy products on the European Commission website.
Besides other taxes like municipality tax, real-estate tax, gift tax, stamp duty, road toll tax, etc. are also applied.

Corporate taxes

Tax rate

Corporate tax rate	25%
There is a minimum tax level	Companies incurring a tax loss or earning small profits must pay a minimum tax of EUR 1,750, EUR 3,500 or EUR 5,452 depending on the legal status of the company and the industry. Non-resident companies are not subject to a minimum tax. Minimum tax may be credited against corporate tax payable in the following years.

Tax rate for foreign companies: A company is considered resident if its effective management is in Austria or if it is incorporated in Austria.
A resident company is taxed on worldwide income, while as a non-resident company is taxed only on Austrian-source income.
Capital gains taxation: Generally charged at 25%.
Main allowable deductions and tax credit: All normal operating expenses as well as extra-ordinary expenses are allowed as deductions against gross income. Special expenses like contributions to social insurance, public relief funds, medical & health insurance, occupational pension funds are also deductible.
Other corporate taxes: Stamp duty, license fees, registration charges, etc.

Individual taxes

Tax rate

Individual tax rateTaxable Income in EUR Rate (%)	Austria individual income tax rates for 2009-2010 are progressive up to 50% for income exceeding €51,000.
from 0 EUR to 10,000 EUR	0%
from 10,001 EUR to 25,000 EUR	23%
from 25,001 EUR to 51,000 EUR	33,5%
beyond 51,001 EUR	50%

Allowable deductions and tax credit

Deductions include expenses incurred towards: insurance premium, purchase of a house or home improvements, retirement savings, work related expenses (like keeping an accommodation close to the workplace, professional use of home computer or internet or car or mobile phone), etc. Generally it is possible to take a flat rate deduction for such expenses.

Automatic tax credits are given based on the number of income earning individuals in a household and whether there are children.

Special expatriate tax regime

There is no special expatriate tax regime in Austria. However the country’s tax authorities do accept a number of deductions on account of additional cost of living incurred by expatriates.

Double taxation treaties

Countries with whom a double taxation treaty have been signed: Website of the Austrian Ministry of Finance.
Withholding taxes: Withholding tax rates are 25% for dividends, 25% for interest and 20% for royalties.
Bilateral agreement: Austria and Tunisia are bound by a double taxation treaty: yes

Signed	Ratified	Enforced
23/06/1977	Law 78-10 of 15/02/78	05/08/1978

Pour aller plus loin dans vos recherches nous vous proposons de connaître les taxes locales connaître les taxes locales qui s'appliquent à votre produit.

Sources of fiscal information

Tax Authorities: Federal Ministry of Finance
Other domestic resources: Taxes in Austria as described by ABA (Invest in Austria)

Accounting Rules

Tax year: The financial year begins on 1st January and ends on 31st December of each year.
Accounting standards: Most of the companies are using IFRS, with only a few are now using US GAAP or the Austrian code.
From 2005, it has become mandatory for all listed European companies, including Austrian companies, to use IFRS.
Accounting regulation bodies: Institut Osterreichischer Wirtschaftsprufer
Accounting reports: The accountancy system in Austria is regulated by the Bilanzbuchhaltungsgesetz 2006 (BibuG - Management Accountancy Law).
Publication requirements: According to their legal status, Austrian companies have to publish annually a profit and loss account, a balance sheet and an appendix.
Professional accountancy bodies: Paritaetische Kommission Bilanzbuchhaltungsberufe – PK
KWT, Kammer der Wirtschaftstreuhaender
WKO, Wirtschaftskammer Oesterreich
Marketing platform of Austrian accountants
BOEB
Certification and auditing: The companies have to seek a statutory auditor to conduct an annual audit of the financial health of their organization.
You can contact the Supervisory body (Paritaetische Kommission Bilanzbuchhaltungsberufe – PK or the Chamber of Public Accountants (Kammer der Wirtschaftstreuhaender -KWT).
Accounting news: Accounting news on Central Europe by einnews.com