Austria: Miscellaneous

VAT. At the end of May the Austrian Parliament approved a law making amendments to the tax law. In the course of the debates two changes were introduced that were not considered in the proposals presented by the Ministry or in a draft law.

In article 21 paragraph 2 of the VAT Law (turnover in the previous accounting year) the threshold regarding the quarterly filing of the provisional VAT return has been increased from 30,000 to 100,000 euro. Pursuant to this amendment, taxpayers who have achieved a turnover between 30,000 and 100,000 euro in the previous year, have to file their VAT return only on a quarterly basis and not every month.

At the same time paragraph 6 of article 21 increases the threshold up to which small companies, which are not liable to pay taxes, are exempt from the duty to file an annual VAT return from 7,500 to 30,000 euro.

Ruling by the European Court of Justice. In principle an intracomunitary purchase is deemed to have taken place in the member country, in which an object is located at the end of the shipping or the transport to the buyer. If the buyer does not have a VAT number of the country, in which the delivery ends, a further fiscal debt arises. If the buyer proves that he/she has declared the purchase regularly in the country, in which shipping ends, the supplementary fiscal debt expires.

With regard to the problem if such a supplementary fiscal debt entitles a buyer to claim input tax, the European Court of Justice has ruled that there is no such right. If no prove is given that the purchase has been taxed in the country of origin of the beneficiary, it is not possible to correct the supplementary fiscal debt.

Allowance on profits. In future all persons doing cash-based accounting or compiling balance sheets will be entitled to claim the new allowance on profits. Single proprietors and partnerships will be able to apply for the allowance while corporations will be excluded.

The new allowance on profits has been increased from10% to 13% of the annual profit but, as previously, will be limited to a total of 100,000 euro. E basic allowance of a maximum of 3,900 euro (13% of the profits up to 30,000 euro) not linked to investments will be granted. If the profits exceed 30,000 euro in this framework, a further allowance up to the limit can be granted but it has to be covered by the purchase of new goods subject to depreciation which have to remain in the company for a period of at least one year.

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