- The draft bill for the Tax Amendment Act 2024 proposes abolishing the “Interbank exemption” from the Austrian VAT Act
- This exemption currently allows for VAT exemption on services between banks, insurance companies, and pension funds
- The abolition of this exemption is set to take effect from 2025 onwards
- The limitation may also impact an “independent group of persons” as the VAT-exempt provision of personnel to them is also to be abolished
Source: kpmg.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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