Austria MOF Clarifies Capital Gains Taxation on Sales of British Property Under DTA With U.K.

The Austrian Federal Ministry of Finance Nov. 4 clarified the taxation of capital gains from the sale of British property under the 2018 DTA with the U.K. An individual, previously resident in Great Britain but resident in Austria since 2020, sold two properties in 2021 located in Great Britain. He sought clarification as to whether, and to what extent, Austria had the right to tax the capital gain. The agency responded that: 1) commentary in the OECD Model Tax Convention on Income and on capital indicates that the assessment basis must be calculated according to the applicable domestic law; 2) ...