Originating from the Value Added Tax Act of 1994, the Austrian VAT system was put into effect on January 1, 1995. Concurrently, the Single Market Regulations were enacted in alignment with the VAT Act, ensuring harmonization with the broader EU VAT system.
The Ministry of Finance and the tax authorities, known as Finanzämter, are responsible for the administration of the Austrian VAT system. They oversee the registration of businesses for VAT, the collection of VAT, and the enforcement of VAT regulations. They also provide guidance and support to businesses to help them comply with VAT requirements and avoid penalties.
Source: GVC
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