On 8 November 2021, the Austrian Federal Ministry of Finance (MOF) published the legislative text of the “Ecological Social Tax Reform Act 2022” (Ökosoziales Steuerreformgesetz 2022) for review until 6 December 2021. Key elements are the introduction of a new Carbon Tax and tax measures to balance the additional tax burden. Taxation of cryptocurrencies as capital income are also introduced.
Carbon Tax will be introduced by way of a national emission certificate trading that shall start on 1 July 2022. The goal is to create cost truth in the pricing of greenhouse gas emissions and to reduce greenhouse gas emissions. National emissions trading will start with a fixed price phase. The initial value for the emission of one ton of carbon dioxide will be €30; this value increases to €35 as of 2023, to €45 as of 2024 and to €55 as of 2025. Trading participants placing on the market sources of energy such as mineral oil, fuels, gas or coal will be liable to acquire national emission certificates.
Source EY
