Austria MOF Clarifies Effect of Suspension of Exchange of Information With Belarus, Russia

The Austrian Federal Ministry of Finance July 18 clarified the tax effects of the suspension of exchange of information with Russia and Belarus under the Convention on Mutual Administrative Assistance in Tax Matters. The clarification includes that: 1) the exemption from limited tax liability on income from capital assets no longer applies to residents of Russia and Belarus; and 2) credit institutions must withhold capital gains tax on income subject to limited taxation in accordance with Section 98 (1) (5) (b) EStG 1988 of residents of Belarus and Russia from Jan. 1, 2023. [Austria, Federal Ministry of Finance, 07/18/22]

Reference: ...