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Austria Introduces Measures to Provide Relief from Rising Inflation and Energy Prices

25 March 2022

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Approved Changes

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Austria

The Austrian Ministry of Finance has announced a package of measures to provide relief from rising inflation and energy prices. Specific tax-related measures include: 50% increase in the lump-sum deduction for commuting expenses and the quadrupling of the commuting allowance; Reduction in the specific energy taxes (natural gas tax and electricity tax) by approximately 90%; and Reduction in the advance payments for income tax and corporate tax to provide liquidity support for entrepreneurs and companies. These and other measures will apply until 30 June 2023.