English Business News 01/ 2023

We would also like to update our English speaking clients on a quarterly basis about the most recent developements in tax matters and any related topics.

BEPS 2.0: Global minimum taxation

The fight against undesirable tax practices has been at the top of the OECD and EU agenda for years. Based on the BEPS Action Plan in 2015, numerous measures were taken to close tax loopholes, which have also found their way into the Austrian Corporate Income Tax Act in implementation of the EU Anti-Abuse Directives. These include, for example, the addition taxation (§ 10a Corporation Tax Act), the anti-hybrid regulation (§ 14 Corporation Tax Act) or the interest barrier (§ 12a Corporation Tax Act). It is also worth mentioning the "Unshell" Directive, which has been in draft form since December 2021, which continues the efforts to combat abusive tax arrangements and is specifically directed against the use of letterbox companies.


Further benefits for the purchase of e-vehicles

From 2023 onwards, both companies and private individuals can benefit from further tax advantages when purchasing or using electric vehicles. In contrast to vehicles with combustion engines or hybrid vehicles, no payroll taxes will be due for the private use of electric cars that employers provide to their employees (non-cash benefit value of EUR 0). No standard consumption tax (NoVA) is levied on such vehicles and they are exempt from motor-related insurance tax.


Tax innovations 2023

In 2023, the legislator has provided new benefits for investments and tax reductions. We provide you with an overview.


AFRAC Technical Note

AFRAC Technical Note - Current Issues Relating to the Accounting of the Energy Cost Subsidy and the Recovery of COVID-19 Aid (UGB) of March 2023.