- The Austrian lower house is considering Bill No. 474 dB to amend the Value Added Tax Act 1994.
- The bill proposes a new 4.9% reduced VAT rate for certain essential food products.
- It also adjusts existing 10% and 13% reduced VAT rates to accommodate the new rate.
- The law would take effect on July 1 and apply to future transactions.
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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