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Austria Proposes Provisional Budget 2014
A Provisional Budget for 2014 has recently been presented by the Vice Chancellor and Finance Minister. The budget includes provisions with regards to group tax regulations, golden handshakes and standard consumption tax, reports Nair & Co.
Provisions considered under the provisional budget are as follows:
* Stringent group tax regulations
* New standard consumption tax (Normverbrauchsabgabe)
* Amendment tothe self-employed workers’ profit allowance regulations
* Elimination of tax breaks for "golden handshakes"
* Hike in the special stability contribution rate to 45%
Being draft provisions, Nair & Co. advises companies operating in Austria to monitor its progress and consider carrying out a detailed analysis of the final regulations to assess actual impact.
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