Austria MOF Announces Individual Income Tax Relief Measures

The Austrian Federal Ministry of Finance Jan. 9 announced income tax relief measures for individuals. The announcement includes: 1) an increase in the minimum taxable income threshold for 2023, to 11,693 euros (US$12,553) from 11,000 euros (US$11,808); 2) a reduction in the rate for the second income tax bracket for 2023, to 30 percent from a 32.5 percent mixed rate; and 3) a 41 percent mixed rate for the third income tax bracket for 2023, which will decrease to 40 percent for 2024. The announcement also includes information on a tax relief calculator for individuals. [Austria, Federal Ministry of Finance, ...