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COVID-19: Austria Exempts Employee Bonuses From Tax

by Ulrika Lomas, Tax-News.com, Brussels

15 April 2020


The Austrian parliament has approved measures to exempt allowances and bonuses paid to employees from all taxes as part of the Government's economic response to the COVID-19 crisis.

The legislation provides for a tax exemption for allowances and bonus payments up to an amount of EUR3,000 (USD3,280). All support payments from public funds intended to mitigate the financial impact of the virus are also exempt from taxes as from March 1, 2020, the Ministry of Finance has confirmed.

Additionally, the ministry said that tax exemptions on allowances paid to employees working under difficult conditions (SEG allowances) will be extended to those working from home or undertaking short-term work for the duration of the crisis.

Furthermore, those manufacturing disinfectants have been granted tax exemptions to help overcome a shortage of these products.

TAGS: Finance | tax | employees | manufacturing | legislation | Austria | individual income tax

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