- The Council of the European Union is considering authorizing Austria to continue excluding the right to deduct input VAT on business goods and services used for private purposes.
- This exemption allows Austria to treat certain expenses as non-deductible for VAT purposes.
- The decision to authorize this exemption is based on the understanding that it does not distort competition or have a negative impact on the functioning of the internal market.
- Austria has requested this authorization to continue the exemption, which has been in place since 1995.
- The Council will review the request and make a decision on whether to grant the authorization.
Source: research.ibfd.org
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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