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Austria Announces COVID-19 Tax Relief Measures

by Ulrika Lomas, Tax-News.com, Brussels

30 March 2020


On March 16, 2020, the Austrian Ministry of Finance announced that it has developed a new form to help companies expedite their claims for coronavirus-related tax relief.

The ministry confirmed that the new form, entitled "Combined request for special arrangements pertaining to coronavirus," enables affected companies to apply for the following tax relief:

  • Reduction of advanced tax payments, possibly down to zero;
  • Waiver of interest on corporate tax arrears stemming from a tax assessment;
  • Postponement of tax due dates, and installment plans for tax payments; and
  • Waiver or reduction of late tax payment surcharges;

Commenting on the measures, Minister of Finance Gernot Blumel said: "It is important to me to ensure liquidity within the companies in order to secure the jobs of Austrians. We will therefore do everything within our power to help quickly and unbureaucratically."

"With these measures, we want to support all those who have been hit particularly severely by this crisis. They need sufficient money to cover their fixed costs and thus keep their staff in employment."

TAGS: compliance | Finance | tax | tax compliance | interest | corporation tax | transfer pricing | Austria | penalties

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