Austria Gazettes Law Amending Various Tax Laws

The Austrian Official Gazette Dec. 23 published Law No. 98, amending the Income Tax Act 1988, the Value Added Tax Act 1994, the Financial Offences Act, the Federal Fiscal Code, the Standard Consumption Tax Act, the Motor Vehicles Act 1967, the COFAG Reorganization and Resolution Act, and the Customs Law Implementation Act. The law includes measures: 1) introducing an 8 percent limit for temporary employment services, and revising income tax rules with updated definitions for private law foundations; 2) modifying VAT exemptions for residential property, introducing criteria for particularly representative properties, and restricting waiver of exemptions; 3) expanding financial crime ...