Austria: Summary of tax developments (December 2020)

Austria: Summary of tax developments (December 2020)

The KPMG member firm in Austria has prepared a report that summarizes recent tax developments, including the following:

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  • Austrian parliament decides on new tax legislation including transposition of the EU Anti-Tax Avoidance Directive and further COVID-19 measures
  • Austrian Federal Finance Court: No input tax refund for intra-Community supply
  • Austrian Federal Finance Court: No denial of input tax deduction if compliant with reasonable care; purchase of goods below "cost price" is not automatically evidence of value added tax (VAT) fraud
  • Austrian Administrative Supreme Court: Import sales tax-exemption and the tax registration in the country of destination
  • VAT classification of an extension of a road belonging to a municipality
  • Treatment of outbound dividends to British intermediary holding company after Brexit
  • Austria: Refund of withholding tax allowed Canadian pension fund; possible refund opportunities for non-EU entities
  • Details on Phase 3 of the COVID-19 short-time work and facilitations measures due to the COVID-19-Schutzmaßnahmenverordnung (COVID-19–safeguard measures regulation)
  • Accelerated depreciation provided for buildings in Austria
  • Austrian Administrative Supreme Court on overlooked refurbishment costs to be spread over several financial years
  • Timing of real estate transfer tax liability in case of down-stream merger
  • Capital gains from the sale of real property derived by individuals: Austrian Administrative Supreme Court decision on rights equivalent to real property
  • Austrian Administrative Supreme Court: Exemption from stamp duty for donation of real property with retained usufruct right
  • Austrian Administrative Supreme Court on stamp duty for registration in land register for non-profit purchases of apartments
  • Extension of time limit for appeal: Austrian Supreme Administrative Court clarifies open issues on the calculation of the time limit
  • Austrian Federal Finance Court: Actual use has an indicative effect for an adequate housing quality of a dwelling in the sense of Article 26 of the tax law
  • Austrian Federal Finance Court: No tax evasion in case of sale of securities on the last day of speculation period

Read a December 2020 report prepared by the KPMG member firm in Austria

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