Austria: Entorn econòmic
A reduced rate of 13% applies to domestic flights, entrance to sporting events (reduced to 5% for cultural events following the COVID-19 crisis), animal feed, seeds, agricultural supplies and ex-vineyard sales of wines, supplies made by artists (reduced to 5% following the COVID-19 crisis).
For depreciation and amortisation, only the straight-line method is accepted, with the cost evenly spread over the useful life of an asset (with some exceptions like buildings and automobiles).
Tax losses can be carried forward without any time limit (within a limit of 75% of the taxable income for any given year, with some exceptions). Whereas the carryback of tax losses is generally not permitted, following the COVID-19 crisis operating losses incurred in 2020 can be offset against profits from 2018 and 2019 (capped at EUR 5 million).
A digital services tax ("Digitalsteuer") applies at a rate of 5% to multinational companies with a worldwide revenue of at least EUR 750 million and a yearly domestic revenue of at least EUR 25 million from providing online advertising services.
Social security contributions paid by the employer amount to a total of 21.23% (maximum assessment basis of EUR 5,550/month), so divided:
- Sickness: 3.78%
- Unemployment: 3%
- Pension: 12.55%
- Accident: 1.20%
- Miscellaneous: 0.70%
Furthermore, the employer is liable to the Family Burdens Equalisation Levy at the rate of 3.9%, the municipal tax on payroll at the rate of 3% of monthly gross salaries and wages, and a public transportation levy equal to EUR 2 per week/employee in the city of Vienna. A contribution to the Chamber of Commerce is levied at a rate between 0.34% and 0.42% of monthly gross salaries paid, according to the province. Local authorities also levy other taxes, for example, on rubbish collection and on entertainment.
Taxpayers who can demonstrate that their liquidity has been adversely affected by government measures in response to the COVID-19 epidemic can apply to have tax payments deferred or to pay in instalments.
Austria | OECD | United States | Germany | |
Number of Payments of Taxes per Year | 12.0 | 10.1 | 10.6 | 9.0 |
Time Taken For Administrative Formalities (Hours) | 131.0 | 163.6 | 175.0 | 218.0 |
Total Share of Taxes (% of Profit) | 51.4 | 41.6 | 36.6 | 48.8 |
Source: Doing Business, Latest available data.
Personal Income Tax (EUR) | Rate (%) |
0 - 11,000 | 0 |
11,001 - 18,000 | 20 |
18,001 - 31,000 | 35 |
31,001 - 60,000 | 42 |
60,001 - 90,000 | 48 |
90,001 - 1,000,000 | 50 |
Above 1,000,000 | 55 |
Special Payments (13th or 14th month salary or bonus) | ranging from 6% to 55% (first EUR 620 is tax-free) |
A tax relief is provided for taxpayers who incur extraordinary expenses (e.g. funeral costs, medical expenses for special treatments not reimbursed by health insurance), with limits depending on the income and family status (with a retention rate ranging from 6% to 12%).
From 2019 onwards, a family bonus tax credit applies as follows: EUR 1,500 per child for children up to the age of 18 years living in Austria; EUR 500 for children between 19 and 24 (in some cases until 25). Several personal and family allowances are available: in general, the former take the form of tax credits and the latter are paid to the taxpayer in cash.
Find out more about Taxes and Accounting in Austria on GlobalTrade.net, the Directory for International Trade Service Providers.
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Actualitzacions: May 2022