{"id":64346,"date":"2020-01-22T20:59:09","date_gmt":"2020-01-22T19:59:09","guid":{"rendered":"https:\/\/blog.hellotax.com\/blog\/?p=64346"},"modified":"2022-01-23T09:29:57","modified_gmt":"2022-01-23T08:29:57","slug":"vat-update-austria","status":"publish","type":"post","link":"https:\/\/hellotax.com\/blog\/vat-update-austria\/","title":{"rendered":"Tax Update Austria: VAT changes in 2020\/2021"},"content":{"rendered":"\n

The Quick Fixes were only the beginning. There are many tax-related changes, new laws and regulations introduced at the moment throughout Europe and therefore, naturally also in Austria. We collected the most relevant announcements for now.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Raising the small\nbusiness limit <\/strong><\/h2>\n\n\n\n

Small business can get a VAT\nexemption below an annual limit of \u20ac 35,000 since the beginning of this year<\/strong>.\nBefore 2020, the limit was \u20ac 30,000. This, like many other aspects of the current\nEuropean tax reforms, shall support small businesses.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Digital tax law (DiStG\n2020)<\/strong><\/h2>\n\n\n\n

The digital tax is used to tax online advertising services provided by\ncorporations in the digital economy which are aimed at users in Austria. <\/p>\n\n\n\n

Online advertising providers with a worldwide turnover of at least \u20ac 750\nmillion per year <\/strong>are taxed. As an additional requirement, at least \u20ac 25\nmillion in digital advertising revenues per year must be generated in Austria.\nThe tax is 5%, calculated on the payment that the online advertising provider\nreceives from the client.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Compulsory EU reporting\nlaw (EU-Meldepflichtgesetz)<\/strong><\/h2>\n\n\n\n

As of 1 July 2020<\/strong>, there\nwill be an obligation to report certain cross-border tax arrangements<\/strong> to\nthe Austrian tax authorities. <\/p>\n\n\n

\"\"<\/figure><\/div>

Book a free consultation<\/h3>

Our VAT experts are happy to help you. Book a free consultation today!<\/p>\n

Free consultation<\/a><\/div><\/div><\/div>\n\n\n\n

The reporting obligation applies\nto structures that involve at least two EU Member States or one EU Member State\nand a third country and indicate a risk of tax avoidance<\/strong>, circumvention\nof the Common Reporting Standard Act or prevention of identification of the\nowner.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Abolition of the tax\nexemption for deliveries from Non-EU countries<\/strong><\/h2>\n\n\n\n

By the beginning of 2021, the\ncurrent \u20ac 22 limit for VAT exemption is not existent anymore<\/strong>. That means\nthat VAT will be charged for delivered goods from third countries regardless of\ntheir value.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Online platforms become\ntax debtors <\/strong><\/h2>\n\n\n\n

If the value of goods does not\nexceed 150 euros for deliveries from non-EU countries to private customers<\/strong>,\nthe operators of the online platforms, among others, will be subject to VAT by 2021<\/strong>.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Reduction of the corporate\ntax rates<\/strong><\/h2>\n\n\n\n

A decrease of the corporate tax rates is planned. It was announced to reduce it from 25% to 23% in 2022 <\/strong>and to 21% in 2023<\/strong>. <\/p>\n\n\n\n

The chancellor of Austria also announced that the personal income tax rates shall be lowered as well.<\/p>\n\n\n\n

Source: https:\/\/www.bmf.gv.at\/presse\/pressemeldungen\/2020\/jaenner\/neu-2020.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Quick Fixes were only the beginning. There are many tax-related changes, new laws and regulations introduced at the moment throughout Europe and therefore, naturally also in Austria. We collected the most relevant announcements for now. Raising the small business limit  Small business can get a VAT exemption below an annual limit of \u20ac 35,000 […]<\/p>\n","protected":false},"author":21,"featured_media":64347,"parent":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"yes","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[5593],"tags":[],"class_list":{"0":"post-64346","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-vat-compliance","8":"entry"},"acf":[],"modified_by":"Niki Stanev","_links":{"self":[{"href":"https:\/\/hellotax.com\/blog\/wp-json\/wp\/v2\/posts\/64346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hellotax.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hellotax.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hellotax.com\/blog\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/hellotax.com\/blog\/wp-json\/wp\/v2\/comments?post=64346"}],"version-history":[{"count":0,"href":"https:\/\/hellotax.com\/blog\/wp-json\/wp\/v2\/posts\/64346\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hellotax.com\/blog\/wp-json\/wp\/v2\/media\/64347"}],"wp:attachment":[{"href":"https:\/\/hellotax.com\/blog\/wp-json\/wp\/v2\/media?parent=64346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hellotax.com\/blog\/wp-json\/wp\/v2\/categories?post=64346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hellotax.com\/blog\/wp-json\/wp\/v2\/tags?post=64346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}