OrbitaxAustrian Parliament Approves Tax Amendment Act 2024 Including VAT and Group Loss Measures and Pillar 2 Safe Harbor Rule Guidance
|Approved Changes|Austria
On 11 July 2024, Austria's Federal Council (upper house of parliament - Bundesrat) approved the Tax Amendment Act 2024 (AbgÄG 2024), which was approved by the National Council (lower house of parliament) earlier in the month. Several measures of the Act concern VAT, including:
- An increase in the turnover threshold for the VAT exemption scheme for small businesses from EUR 35,000 to EUR 42,000…
