- Austria’s National Council has approved a draft law implementing new reporting obligations for payment service providers from 1 January 2024, as required by Council Directive (EU) 2020/284.
- This directive mandates that payment service providers monitor cross-border payments and transmit information on those receiving more than 25 such payments per quarter to Member State administrations to combat VAT fraud.
- The council also approved the draft Tax Amendment Act 2023, which includes tax measures, beneficial owner register improvements, and the establishment of venture capital funds in the legal form of a stock corporation.
- Both laws require approval by the Federal Council.
Soure Orbitax
Latest Posts in "Austria"
- Mandatory E-Invoicing for Austrian Federal Government Suppliers: Rules, Platforms, and Submission Methods
- Austria to Cut VAT on Staple Foods, Hygiene Products, and Contraceptives in 2026
- Subsidy Entitlement for VAT-Exempt Entrepreneurs Operating Care Homes Under Austrian Law
- VAT Exemption for High-Value Residential Rentals from 2026; Input VAT Deduction Disallowed
- Austria Introduces 4.9% Reduced VAT Rate for Essential Foods from July 2026
