The Amendments to Federal Tax Law 2014 were passed by the Austrian National Assembly

The Amendments to Federal Tax Law 2014 were passed by the Austrian National Assembly

On 24 February 2014 amendments to Federal Tax Law 2014 (Abgabenänderungsgesetz 2014) were passed by the National Assembly of Austria. 

Previousely we summarized the most significant changes. Below please find the brief outline of them:

As of 1 March 2014, interest and royalty payments to domestic and foreign affiliated corporations shall no longer be tax deductible if the income of the recipient corporation (beneficial owner) is completely or predominantly not subject to taxation or taxed at a rate of less than 10%.

As of 1 March 2014 minimum share capital for limited liability companies (GmbHs) increases from €10,000 to €35,000. 

As of 1 March 2014, in addition to corporations resident in the EU, foreign entities resident in countries with which Austria has agreed on comprehensive administrative assistance may be included into a tax group.

As of 1 January 2016, the existing 1% capital duty on equity contributions will be abolished.

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