On 8 November 2021, the Austrian Federal Ministry of Finance (MOF) published the legislative text of the “Ecological Social Tax Reform Act 2022” (Ökosoziales Steuerreformgesetz 2022) for review until 6 December 2021. Key elements are the introduction of a new Carbon Tax and tax measures to balance the additional tax burden. Taxation of cryptocurrencies as capital income are also introduced.
Carbon Tax will be introduced by way of a national emission certificate trading that shall start on 1 July 2022. The goal is to create cost truth in the pricing of greenhouse gas emissions and to reduce greenhouse gas emissions. National emissions trading will start with a fixed price phase. The initial value for the emission of one ton of carbon dioxide will be €30; this value increases to €35 as of 2023, to €45 as of 2024 and to €55 as of 2025. Trading participants placing on the market sources of energy such as mineral oil, fuels, gas or coal will be liable to acquire national emission certificates.
Source EY
Latest Posts in "Austria"
- Austria Simplifies Digital Fiscal Receipt Delivery at Checkout
- Austria simplifies electronic issuance of fiscal cash-register receipts
- Titanium Case: EU VAT Fixed Establishment Rules
- Austrian Wholesaler’s VAT Treatment of EU Triangular Transactions
- Late Invoice Blocks Simplified VAT Scheme in Triangular Transactions
