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Austria: “Ultimate beneficial owner” registration, deadline 1 June 2018

Austria: “Ultimate beneficial owner” registration

Corporate and other legal entities incorporated or managed in Austria must register their “ultimate beneficial owners” with a newly established Austrian ultimate beneficial owner registry no later than 1 June 2018.


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According to the ultimate beneficial owner registry law (Wirtschaftliche Eigentümer Registergesetz (WiEReG)), entities including foundations, trusts, and trust-like arrangements:

  • Must obtain and hold adequate, accurate, and current information on their ultimate beneficial ownership—including details of the beneficial interests held
  • Are required to analyze and understand ownership and control structures throughout all ownership levels of corporate groups, so as to understand their ultimate beneficial owners
  • Must review and update annually all registered data of their beneficial owners
  • Must disclose their ultimate beneficial owners and provide documentation to financial intuitions and legal and tax counsels (whose clients they may be)

The deadline for initial registration is 1 June 2018. Newly established corporations must register their ultimate beneficial owners within four weeks of incorporation. If there are changes, the registration must be amended within four weeks.


Read a May 2018 report [PDF 323 KB] prepared by the KPMG member firm in Austria


Other items briefly described in this KPMG report concern:

  • A draft bill on legal requirements for tax compliance management systems
  • A court case on stock options and tax deduction business expense for employers
  • A court decision that legal defense costs are deductible
  • A court decision concerning an interest deduction on leveraged acquisition of participation in a group member
  • Administration opinion concerning whether “cloud mining” gives rise to a permanent establishment
  • A court decision on revision proceedings are inequitable if the facts were already examined in a previous tax audit

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