Austria: Expected changes to the tax law

At the end of January the Council of Ministers approved a draft amendment to the tax law. The respective discussion in Parliament should be completed by the end of February.

With reference to the group taxation scheme, the draft states that from 1 March 2014 onwards an Austria tax group will be able to have only foreign corporations as members residing in an EU member state or with comparable corporations in third countries with which Austria has concluded a double taxation treaty or a comprehensive administrative assistance agreement.

Members of the Austrian tax group resident in third countries not meeting these requirements may remain group members until December 2014 and will automatically be excluded from the Austrian tax group on 1 January 2015.
As of 2015, such foreign losses can be offset only up to 75% against the overall income of all domestic group members and the group parent. The remaining current foreign losses have to be added to the tax loss carried forward of the group parent and can be offset against the future group income.

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