Following the tax measures related to investments, degressive depreciation, loss carry-backs and others, on 30 June the Austrian National Council decided to amend the law that provides for a reduction of VAT to 5% for certain supplies and services for the period from 1 July 2020 to 31 December 2020. Compared to the draft, the Austrian National Council has extended the scope of the measures.
The affected industrial sectors are gastronomy, the lodging industry, the cultural sector and the publishing sector. These sectors are particularly affected by the consequences of the COVID-19 crisis.
Source WTS
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