Taxes in Austria
Our professionals are dedicated to finding practical answers to all of your tax, audit, and financial advisory problems. In the solutions we produce, we combine individualized support, long-standing expertise, in-depth topic knowledge, and our own business experience. Our services are both cost-effective and business-friendly.
Tax solutions in Austria
Our tax solutions in Austria are as follows:
Tax optimization
We help businesses calculate and pay taxes in conformity with local and international tax laws, while also taking advantage of any incentives to promote international trade.
Tax consultation
The specialists help clients meet their financial commitments by adequately planning and optimizing their budgets in Austria.
VAT registration
We work with a wide variety of companies that successfully obtain their VAT number in Austria.
Bookkeeping
Our accurate bookkeeping system provides businesses with a dependable indicator of their performance.
Applying for tax return
Your auditors will prepare and file your tax returns with state officials on your behalf. For tax returns, the professionals present necessary documents such as itemized deductions, capital income reports, and donations.
Register as a taxpayer
With the assistance of our tax professionals, you can qualify as a taxpayer who provides the appropriate evidence to the IRS.
System of taxes and fees in Austria
The state collects taxes in Austria, and according to the World Bank, tax revenue accounted for 42.7 percent of GDP in 2016.
Income tax, corporate tax, social security contributions, value-added tax, and tax on goods and services are the government’s most major revenue sources.
Corporate income tax
The corporate income tax rate in Austria is a tax levied on businesses. Its value is determined by the net income firms earn while conducting business, usually over a single fiscal year.
Austria has risen to the top of the list of the world’s most business-friendly countries since the corporate tax rate was slashed to 25%.
Personal income tax
Austrian income tax applies to all Austrian residents’ worldwide income, including income from trade or commerce, profession, employment, investments, and real estate. Non-residents are only taxed in Austria on specific types of income. Non-residents are liable to standard income tax rates on income earned in Austria (including a fictitious income increase of EUR 9,000).
Social security tax
Health insurance, pension insurance, unemployment insurance, and accident insurance are all required by law in Austria. Contributions are calculated as a percentage of total monthly earnings (up to certain maximum amounts) and are split 50/50 between the employee and the employer.
VAT
A customer in Austria must pay the net sales plus 20% VAT, which is included separately on the supplier’s invoice. In effect, the client bears the supplier’s tax burden. Following that, the sum is deducted from the customer’s value-added tax liability.
Request bookkeeping solution
Businesses may rely on our accurate bookkeeping system to provide a reliable measure of their performance.
Bookkeeping
We also provide crucial information for making broad strategic decisions, as well as a benchmark for the company’s sales and profit goals.
Contact us
Ready for the next step
Accelerate your business growth while we take care of everything else.