Austria MOF Clarifies Input Tax Adjustment for Different Financial Years

• The Austrian Federal Ministry of Finance has clarified the adjustment of input tax for different financial years.
• The case involved a taxpayer who acquired a property in 2002 and carried out major repairs in 2004, 2005, and 2007.
• The taxpayer sold the property VAT-free in December 2013 and made an input tax adjustment from 2005 to 2007.
• The Tax Office changed the adjustment to 2004 to 2007 and assessed the taxpayer for VAT for the financial year from December 2013 to November 2014.
• The Federal Finance Court ruled that the deadline for the input tax adjustment is the end of the ninth calendar year following the calendar year of first use.
• The court also stated that the calculation based on calendar years applies to different financial years.

Source: news.bloombergtax.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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