Taxation

New Second Home Tax in Vienna in 2025

Vienna is implementing new measures to regulate second homes. From 2025, an annual tax will be introduced for people who have a secondary residence in Vienna but do not have their main residence there.

December 21, 2023

Austria's Successful Green Budgeting and Emission Reduction Efforts

The Climate Team, newly established in the Austrian Ministry of Finance, has presented essential results and analyses in recent months to bring Austria closer to the goal of a cost-effective and socially acceptable transformation in climate protection. In fact, the European Commission, OECD, and World Bank have all recognized Austrian green budgeting as a best practice.

July 30, 2023

Inaugural Statement of Austria's New Chancellor: "We Want to Reconcile with History"

Newly appointed Austrian Chancellor Karl Nehammer delivered his inaugural statement to the National Council. Read what the new chancellor said are some of the key issues his government will focus on.

December 10, 2021

Who Is the New Austrian Minister of Finance Dr. Magnus Brunner?

The new Austrian Minister of Finance, Dr. Magnus Brunner, has assumed his new position after being sworn in by President Van der Bellen. Learn more about Dr. Brunner and his career prior to becoming finance minister.

December 8, 2021

Money Laundering, Tax Offenses and Terrorist Financing on the Rise

The Austrian Ministry of the Interior reported an increase in money laundering, tax offenses, and terrorist financing in 2020. Read more details about this disturbing trend and its causes.

November 4, 2021

Schallenberg at UN Climate Conference: "We can only overcome a global crisis together"

Chancellor Schallenberg recently spoke at the 2021 UN Climate Change Conference (COP26) in Glasgow. The Austrian chancellor stressed the need for international cooperation to fight climate change. Read some of Austria's climate goals, what steps it is taking to achieve these, and what the chancellor said still needs to be done.

November 2, 2021

Austria Presents Financial Budget for 2022

Austrian Finance Minister Gernot Blümel presented Austria's draft financial budget for 2022 to the Austrian Parliament in the form of the annual budget speech. The plan includes tax reforms, budget increases for various ministries, estimates regarding the COViD-19 crisis, and more. Read some of the specific provisions in the budget outlined by the finance minister.

October 14, 2021

Importance of Economic Relations Between the United States and Austria

The American Chamber of Commerce in Austria (AmCham Austria) presented a new study on the importance of economic relations between the United States and Austria. AmCham also provided a position paper with five key recommendations to the Austrian Minister for Digital and Economic Affairs Dr. Margarete Schramböck and Secretary-General of the Austrian Foreign Ministry Peter Launsky-Tieffenthal. Read about the findings of the study and AmCham's recommendations.

August 23, 2021

Pioneering Hydrogen Alliance between the United Arab Emirates and Austria

On the occasion of the visit of the Ruler and Crown Prince of the Emirate of Abu Dhabi, Sheikh Mohamed bin Zayed bin Sultan Al Nahyan to Austria, the United Arab Emirates (UAE) and Austria agreed on a strategic partnership. The core of the agreement is closer international cooperation in the fields of hydrogen, renewable energy, youth exchange, green technologies, digital economy and research, according to the UAE Embassy in Vienna and Chancellor Kurz.

August 1, 2021

South Korean President in Vienna

The South Korean President Moon Jae-in has met his Austrian counterpart Alexander Van der Bellen and the Austrian Chancellor Sebastian Kurz in Vienna to discuss the Covid-19 pandemic and a strategic partnership.

June 15, 2021

Driving a Car in Austria: How to Import a Vehicle for Personal Use

What is required to register your car in Austria that you have purchased abroad? What do you need to look out for when buying a car? What costs do you have to bear? You can find all tips for importing your own vehicles (Eigenimport) to Austria here.

August 4, 2019 · Updated: April 1, 2021; 13:13

Tax Reform Will Be Valid from September 1 on

According to Finance Minister Blümel, the tax reform will be valid on from September 1 and there will be a corresponding refund for salaries already taxed with retroactive effect from 1 January 2020.

August 31, 2020

US Secretary of Commerce Wilbur Ross in Vienna

The 82-year-old United States Secretary of Commerce Wilbur Ross, who has been in office since February 28, 2017 and was nominated by Donald Trump, visited Vienna and met, among others, US Ambassador Trevor Traina, WKO President Mahrer, Finance Minister Blümel, Environment Minister Gewessler and Economics Minister Schramböck.

February 11, 2020

Guide to VAT Refund for Visitors to Austria - Cash Refund at Vienna International Airport

Austria has one of the highest refund rates for large purchases, at up to 15%. A convenient way for visitors from third countries or non-EU countries is to apply for a cash refund of the VAT at the airport (Flughafen Wien Schwechat) on all their purchases made in Austria before their return flight.

February 10, 2020

OECD Economic Survey: Reform Proposals for Austria

A recent economic report by the OECD (Economic Surveys: Austria 2019) examines the impact of weak foreign demand, uncertainties in world trade and an ageing population on the prospects for the Austrian economy.

November 15, 2019

Diplomats in Austria: How the VAT Refund Works

Would you like to know how you can recover your VAT expenses as a diplomat working in Austria or as an expat with diplomatic status working for an international organisation?

October 23, 2019

Relocation to Austria: How to Import Tax and Duty Free a Vehicle for Personal Use

It may be convenient to take your car with you when you relocate to Austria. The same applies to cars that may cost less abroad than in Austria. However, there are additional costs in addition to the purchase price (Eigenimport). The NoVA (Normverbrauchsabgabe) is due at the first registration in Austria for new and used cars. The NoVA varies according to age and model. However, you can avoid this under certain conditions.

August 7, 2019

Driving a Car in Austria: What Users of a Vehicle with a Foreign Number Plate Need to Know

Persons whose main residence is in Austria and who drive a vehicle with a foreign registration plate must obtain an Austrian registration plate after one month at the latest. If the license plate is used for a longer period of time, administrative and financial criminal proceedings will be initiated.

August 2, 2019

Diplomats in Austria: How Does the Tax Exempt Purchase of Motor Vehicles Work?

New rules for the tax-exempt purchase of a motor vehicle from an Austrian car dealership concern the direct exemption from VAT and the normal consumption tax, which contributes to speeding up the tax relief.

July 9, 2019

New Double Taxation Agreement Between Israel and Austria

After almost 50 years, a new double taxation agreement (DTA) for income and capital taxes was signed between Israel and Austria, which includes substantial tax relief.

April 10, 2018

Analysis: Vienna's 900 Years of Close Ties With Former Tax Haven Liechtenstein

Federal President Alexander Van der Bellen visited the Principality of Liechtenstein during a state visit to Vaduz. After 14 months, he has finally visited the last of Austria's neighbouring countries. The state was known as a tax haven until November 2013. The Liechtenstein tax affair and offshore leaks have contributed to the neighbouring country signing an international agreement to prevent tax evasion.

March 22, 2018

Austrian Oberbank Shines in Hungary

Austrian Oberbank bucks the trend of terminating business activity in Hungary. Instead, the financial institute plans on growing in one of the most difficult markets in Europe.

May 22, 2014

Fiat Intensifies Investments in Poland

As reported by Polish daily Puls Biznescu, Italian automotive manufacturer Fiat plans on lauching the production of a new series, similar to the so-called Punto.

May 9, 2014

Wesner: “Failing in Business Does Not Mean Personal Failure”

The start-up culture in Austria is clearly different than the one in the US. On the occation of the May Day, experts, including US ambassador to Austria Alexa Wesner, talked about the differences in the start-up scenes.

May 8, 2014

Austria Gives up Bank Secret for United States

Austria and the US have signed an agreement for the exchange of fiscal data. However, the agreement could be renewed soon.

April 30, 2014

Hypo Group Further Losses to Be Expected

Huge losses by the sale of the SEE banking network could be expected.

April 30, 2014

Spindelegger: “Arsonists Are to Blame Not Fire Brigade”

The downsizing of ailing bank Hypo Group Alpe Adria is a heavy burden for this year’s budget. According to Finance Minister Spindelegger, the deficit comes at 2.7 percent of GDP while public debts will soar.

April 29, 2014

Austrian Banking Sector Making Losses

For the first time in 2013, the Austrian banks made losses in the amount of € 1.035bn.

April 29, 2014

Austria: Is Spindelegger Suitable as Finance Minister?

On Tuesday the Austrian Finance Minister will hold his first budget speech. Initial figures reveal record debt levels.

April 28, 2014

Croatia Faces Radical Fisal Measures

The fiscal situation of the Balkan country and youngest EU member state is disastrous. The Croat government announced to introduce new taxes.

April 25, 2014

Do Taxes Justify a Relocation of Business?

Tax sensitive business operations should be relocated to other areas if necessary, according to the head of Erste Bank Austria.

April 24, 2014

Eder: Policy-Makers Have to Make Decisions

Wolfgang Eder, CEO of Austrian steel manufacturer voestalpine, claims not to have heard anything from the Austrian policy makers after he raised criticizm with regard to the Austrian business location.

April 24, 2014

Austria: Calls for Reduction of Bureaucracy Become Louder

Bureaucratic hurdles burden the Austrian enterprises the most apart from taxes and other levies.

April 23, 2014

Austrians Cautiously Observant

Despite economic recovery the Austrian citizens are still cautiously observant.

April 22, 2014

Poland: VAT Likely to be Reduced

As announced by Polish Finance Minister Mateusz Szczurek, the government plans on cutting the VAT rate to 22 percent in 2017.

April 22, 2014

Austria: RLB OÖ Still Threatening to Leave

According to managing director of Raiffeisenlandesbank Oberösterreich (RLB OÖ) Heinrich Schaller, the tax burden is too high in Austria. The bank is still threatening to leave for Germany if the bank levy will not be changed.

April 17, 2014

Poland: Excessive Deficit Procedure for Two More Years

The Polish government expects the EU Commission to cancel the Excessive Deficit Procedure in “less than two years” due to the measures applied so far the continuing of economic recovery.

April 16, 2014

Industrial Location Austria Losing Attractiveness

Among other things, labor costs and energy prices are too high, according to the Austrian Federation of Industries.

April 16, 2014

Slovakia as a Role Model?

In an interview with Austrian daily “Wirtschaftsblatt”, Tomas Malatinsky, Economy Minister of Slovakia, talked about budget discipline, investments and tax policy.

April 16, 2014

Serbia: “Radical Measures” Needed to Tackle Grey Economy

Experts call for higher penalties to make tax evasion and gray economy less profitable and establish financial discipline.

April 14, 2014

Poland: No Tax Hike Required

According to Poland’s Finance Minister, a tax increase is not required this year.

April 14, 2014

Austria: Tax Quota Grows Continuously

Austria is well on the way to reach the top of the high-tax countries. Last year, Austria´s tax quota on labor income has reached the highest in its history.

April 12, 2014

Raiffeisen Branch to Leave Austria?

One of the provincial units of Raiffeisen Group, regional lender Raiffeisen Landesbank Oberösterreich (RLB OÖ), is considering relocating its headquarters to Germany.

April 11, 2014

Vucic: “Not Afraid of Social Riots”

The future Prime Minister of Serbia underlined the necessity of reforms.

April 10, 2014

Erste Group to be Relocated to the Czech Republic?

CEO of Erste Group, Andreas Treichl, has informed Czech President Milos Zeman about the bank’s intention to move to Prague in the coming years.

April 9, 2014

Austria: Government Wants “Restrictive Budget Performance”

Today the Austrian government has decided upon a “restrictive budget performance.

April 8, 2014

Austria: Purchasing Power Shrinks

Due to higher taxes and social contributions, the real income fell in the last few years.

April 8, 2014

Serbia: Effective Measures for Economy

The Serbian Chamber of Commerce considers the measures for economic growth “a very big thing”.

April 7, 2014

Hungary: OTP Approaches Acquisition of MKB

MKB, the Hungarian loss-making affiliate of German regional lender BayernLB, is approaching its acquisition by the biggest lender OTP.

April 3, 2014

Austria: Dispute about Bank Tax Culminates

The establishing of a new fund for the banking union will become a financial burden for banking institutes.

April 3, 2014
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