The Austrian government has approved a resolution to provide further inflation relief for individual taxpayers. In 2023, Austria implemented reforms to compensate for so-called "cold progression", which is the additional tax burden resulting from the tax system's failure to adjust for inflation. From 2024, automatic inflation adjustments are made, including adjustments in the individual income tax brackets (previous coverage). The automatic adjustment is 2/3 of the annual inflation rate, with the remaining 1/3 to be determined annually by government resolution. With the latest resolution, the first four income tax brackets are further increased as follows: up to EUR 12,816 -...