Austria, officially the Republic of Austria is a country in Central Europe comprising nine federated states. Its capital, largest city and one of nine states is Vienna. As part of the group of European fiscal countries, Austria introduced fiscalization back in 2012. in order to prevent and fight tax frauds and grey economy. Latest major regulatory changes are dating back from April 2017.
As of 1st January 2016, the Austrian Government imposed a “cash register” obligation for business operations (as defined by the Austrian Income Tax Law) with net annual revenue of €15,000 or more if their annual cash transactions exceed the threshold of €7,500.
Cash transactions include those transaction where payment media is treated as cash or similar to cash – bank cards, credit cards or debit cards, vouchers or tokens, but also electronic payments (e.g. via mobile phone).
Contribution by JB Fiscal Consulting
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