BMF publishes draft of the Tax Amendment Act 2024
- An “EU small business” will be created to allow Austrian companies to use the small business exemption in other EU member states, and vice versa. The turnover limit for the small business in the EU is EUR 100,000, with a tolerance limit for one-time exceeding. Foreign companies in Austria can qualify for the small business regulation if their EU-wide turnover does not exceed EUR 100,000 and does not exceed 10% of their total turnover.
- In addition, local taxable sales of a maximum of EUR 42,000 may be generated.
- Simplified invoicing is available for small businesses
- VAT exemption for food donations will not be subject to withdrawal tax.
- The differential taxation rule does not apply to the delivery of works of art if the reduced tax rate was applied to the delivery or importation by the reseller.
Source PwC
See also
Latest Posts in "Austria"
- No VAT Exemption for Chiropractic Treatment Without Medical Prescription, Supreme Court Ruling 2025
- Tax Treatment of Paid Waiver of Pre-Emption Rights as Independent Supply under § 2(1) UStG
- Reopening Tax Proceedings: Legal Requirements and Consequences of Insufficient Reasoning
- No Input VAT Deduction for Intra-Community Supplies, Even if VAT Was Incorrectly Charged
- VAT Liability for Payments Due to Early Termination or Payment Default in Online Service Contracts
