Industry Sees Boost From Austria’s Hospitality Sector Tax Breaks

Austria’s $543 million tax relief package will go a long way toward helping the hospitality sector hammered by the coronavirus, a business group said.

The 500 million euro package includes a reduction in value-added tax on nonalcoholic beverages from 20% to 10% until the end of 2020, elimination of the tax on sparkling wines, and an increase to 75%, from 50%, of business lunch tax deductibility.

The package will help relieve the hard-hit industry, Mario Pulker, head of the hospitality branch of the Austrian Chamber of Commerce, said in a statement Monday.

According to Pulker, the package, “which ...