As previously reported, on 1 August 2011, the Tax Amendment Act 2011 (Abgabenänderungsgesetz 2011) was published in the Official Gazette. Previously, the Act was approved by the Federal Council with minor changes on 21 July 2011. The following amendments were made before final approval: Federal Tax Act Further, the Tax Amendment Act 2011 introduces a new Sec. 205a to the Federal Tax Act (Bundesabgabenordnung – BAO). According to the new provision, taxpayers will receive credit interest on prepaid tax, if the amount of tax payable is decreased due to an appeal. The interest rate amounts to 2% above the base...