Tax-News | Business-News

Employment bonus for new jobs – application as of July 1st 2017 - consider 30-day application period and requisite evidence

LBG-Summary: Starting on July 1st 2017, companies are entitled to apply for a refund of 50% of non-wage labor costs (e.g. employer social security contribution) for each newly created job over a period of up to three years. The funding is accessible to companies regardless of their size or the business sector in which they operate provided that their headquarters or permanent establishment is located in Austria. The public financing bank Austria Wirtschaftsservice (aws) is responsible for handling the application and granting of funding. You can find all details to "employment bonus" in our LBG information from 26/07/2017: Employment bonus from 01.07.2017.

Practical hints:
◾ Eligibility: Each additional employee must be "eligible". We recommend obtaining an electronic data extract from the social insurance carrier.
◾ Data Protection: A "declaration of consent" from each employee eligible for funding must be submitted for the transfer of personal data to the "aws". We recommend to include this "declaration of consent" already in the contract of employment.
◾ Confirmation by tax consultants or auditors: The funding guidelines stipulate that a tax consultant or auditor must confirm specific eligibility criteria in the "funding application" as well as in the subsequent "later registration of further employees" and specific criteria for the twelve-month later following "funding account". It is not merely a "formal rule", but a carefully performed and documented expert performance. Thus the legislature shifts the responsibility for the correctness of the information in the "funding application" and the associated professional work to the entrepreneur as well as to the confirming tax consultant or auditor and would like to protect himself against abusive funding applications.

Contact & Advice: Our experts in the consulting field “payroll accounting, income tax, social security, labour law” will be pleased to advise you in your individual situation. Please contact our consultants either directly at LBG at our 30 locations in Austria (www.lbg.at) or email us welcome@lbg.at – we will connect you with the right expert at LBG who is very familiar with your concerns.

July 27, 2017 Leer publicación

“Self-employed” or “Employee” – since July 1st 2017 a binding decision by the social insurance is possible in Austria, even in advance

LBG-Summary: The classification “Self-employed” or “Employee” can be challenging and has, if wrong, severe consequences on social security and taxes in Austria. In practice, difficulties in the classification arise mainly when freelancers are predominantly working for one client or are integrated into their client’s economic organization. In the course of an audit by the authorities, the question regularly arises is whether the customer has to be qualified as an employer - with all associated obligations and additional payment. In order to provide a binding effect and avoid later consequences, as of July 1st 2017 certain groups, notably “new self-employed”, freelancers, farmers carrying out sideline activities, will be checked by questionnaire – now already before starting to work – if they are assigned to the correct social security and therefore correctly classified “self-employed” or “employee”. The social security check is also possible for existing employment.

Contact & Advice: Our experts in the consulting field “payroll accounting, income tax, social security, labour law” will be pleased to advise you in your individual situation. Please contact our consultants either directly at LBG at our 30 locations in Austria (www.lbg.at) or email us welcome@lbg.at – we will connect you with the right expert at LBG who is very familiar with your concerns.

July 14, 2017 Leer publicación

aws Kreativwirtschaftsscheck 2017: bis zu 5.000 Euro Zuschuss für KMU bei Inanspruchnahme von Leistungen der Kreativwirtschaft

Der aws Kreativwirtschaftsscheck geht in die nächste Runde. KMU erhalten einen Zuschuss, wenn sie Leistungen der Kreativwirtschaft für die Entwicklung, die Umsetzung oder die Vermarktung ihrer innovativen Produkte, Dienstleistungen oder Verfahren in Anspruch nehmen. Die Ausschreibung läuft von 1. Juli bis 7. September 2017. KMU erhalten einen Zuschuss von bis zu 100% der förderbaren Kosten, maximal 5.000 Euro. Es gilt NICHT das Prinzip „first come, first serve“! Für alle bis 7. September 2017 vollständig eingebrachten Anträge kommt - sollten wie erwartet mehr Anträge eingebracht werden als Budgetmittel zur Verfügung stehen - ein notariell durchgeführtes Ziehungsverfahren nach Zufallsprinzip zwecks Auftragsreihung zur Anwendung. Leer publicación

The Austrian Supreme Administrative Court clarified: VAT-free intra-Community supply of goods also applies if both, supplier and buyer take part in an “interrupted” transportation of goods

LBG-Summary: Recently, the Austrian Supreme Administrative Court had to decide if in cases, where the responsibility of the transportation of goods is split by supplier and buyer has to be considered as two separate VAT-relevant processes in the EU or one consistent delivery. The decision of the Supreme Administrative Court that also “split” transportations have to be considered as consistent delivery lead to VAT facilitations.

Contact & Advice: Our experts at LBG will be pleased to advise you in your individual situation. Please contact our consultants either directly at LBG at our 30 locations in Austria (www.lbg.at) or email us welcome@lbg.at – we will connect you with the right expert at LBG who is very familiar with your concerns.

July 14, 2017 Leer publicación

VAT: If the distance selling threshold in an EU recipient country is exceeded, the Austrian supplier owes foreign VAT

LBG-Summary: Due to the free movements of goods within the EU, the delivery of goods to foreign customers is generally easy and non-bureaucratic. However, as an entrepreneur you have to pay special attention to the respective distance selling thresholds in the EU which come into effect when delivering notably to private individuals, small enterprises on behalf of VAT rules or flat-rate farmers. If the Austrian supplier exceeds the distance selling threshold in a certain EU country (for example Germany € 100.000, Italy € 35.000, France € 35.000), the VAT liability is shifted from Austria to that particular EU recipient country. Note: If goods are dispatched or transported from an EU-Member State to Austria by a foreign supplier or on behalf of a foreign supplier exceeding the Austrian distance selling threshold (€ 35.000), the VAT liability is shifted to Austria and the foreign supplier owes Austrian VAT.

Contact & Advice: Our experts at LBG will be pleased to advise you in your individual situation. Please contact our consultants either directly at LBG at our 30 locations in Austria (www.lbg.at) or email us welcome@lbg.at – we will connect you with the right expert at LBG who is very familiar with your concerns.

July 14, 2017 Leer publicación

Weinbau: Denken Sie an Ihre verpflichtende Bestandsmeldung im Abgabezeitraum 16. Juli bis 15. August 2017.

Bitte denken Sie rechtzeitig an Ihre heurige Bestandsmeldung! Die Meldung ist ab 16. Juli 2017 möglich und für Betriebe mit einer Ernte über 3.000 Liter verpflichtend bis spätestens 15. August 2017 elektronisch über die Applikation Wein-Online, angesiedelt auf der Homepage des BMLFUW, abzugeben. Auch Weinhandelsbetriebe und Winzergenossenschaften sind im gleichen Zeitraum zur Abgabe der Bestandsmeldung in elektronischer Form verpflichtet. Lediglich Betriebe mit einer Erzeugung von weniger als 3.000 Liter können die Bestandsmeldung alternativ in Papierform im Wege des Gemeindeamtes abgeben. Stichtag für die Ermittlung der Bestandsmeldungswerte ist in jedem Fall der 31. Juli 2017. Leer publicación

Employment bonus for new jobs – application as of July 1st 2017

LBG-Summary: Starting on July 1st 2017, companies are entitled to apply for a refund of 50% of non-wage labor costs (e.g. employer social security contribution) for each newly created job over a period of up to three years. The funding is accessible to companies regardless of their size or the business sector in which they operate provided that their headquarters or permanent establishment is located in Austria. The public financing bank Austria Wirtschaftsservice (aws) is responsible for handling the application and granting of funding.

Contact & Advice: Our experts in the consulting field “payroll accounting, income tax, social security, labour law” will be pleased to advise you in your individual situation. Please contact our consultants either directly at LBG at our 30 locations in Austria (www.lbg.at) or email us welcome@lbg.at – we will connect you with the right expert at LBG who is very familiar with your concerns.

June 28, 2017 Leer publicación

Foreign scientists and researchers switching their “center of vital interest” to Austria are entitled to claim new attractive Austrian tax benefits

LBG-Summary: According to the “Zuzugsbegünstigungsverordnung 2016” scientists and researchers switching their “center of vital interest” to Austria are entitled to claim an additional tax allowance of 30 percent of taxable income from domestic (and partly also foreign) scientific and research activities for a period of five years maximum. The application for obtaining such tax benefits must be filed with the Austrian Ministry of Finance within six months from the date of the move to Austria, after that period claims for the tax benefit are invalid. In order to qualify for the tax benefits the moving in of the highly qualified person has to serve the advancement of science and research and must be in public interest.

Contact & Advice: Our experts at LBG will be pleased to advise you in your individual situation. Please contact our consultants either directly at LBG at our 30 locations in Austria (www.lbg.at) or email us welcome@lbg.at – we will connect you with the right expert at LBG who is very familiar with your concerns.

June 13, 2017 Leer publicación

Simplified establishment of a limited liability company in Austria by a sole shareholder as of January 1st 2018

LBG-Summary: The deregulation law 2017 allows as of January 1st 2018 – initially limited to a period of three years – the establishment of a limited liability company by a sole shareholder without a notary if certain requirements are met. For the establishment of a limited liability company it will then be sufficient to provide – instead of a notary deed – the electronic declaration about the foundation of the limited liability company via the business service portal and the electronic application of the registration in the commercial register. Despite this (in general) good news we highly recommend seeking tax and economic advice before establishing a limited liability company. Sense, alternatives, consequences on business relations, financing, taxes, social security and much more need to be clarified in detail.

Contact & Advice: Our experts at LBG will be pleased to advise you in your individual situation. Please contact our consultants either directly at LBG at our 30 locations in Austria (www.lbg.at) or email us welcome@lbg.at – we will connect you with the right expert at LBG who is very familiar with your concerns.

May 26, 2017 Leer publicación

In order to claim deduction of input VAT in Austria it is required to carefully check the contract partner

LBG-Summary: If an entrepreneur makes taxable transactions, he is obligated to issue an invoice. Only if the invoice contains in principle all invoice details, the customer (recipient of the supply of goods or services) is entitled to claim deduction of input VAT. It is therefore recommended to carefully check if an invoice contains all relevant details – for invoices over € 400 (including VAT), among others, the name and address of the supplier and customer, the quantity and the commercially used description of the goods supplied, the date of supply, the amount of tax payable and the VAT identification number of the issuer of the invoice. In this regard, every entrepreneur is obligated to check the validity of the VAT number of the issuer of an invoice by a two-step UID-query (VAT-query) via FinanzOnline and to keep the result of the query.

Contact & Advice: Our experts at LBG will be pleased to advise you in your individual situation. Please contact our consultants either directly at LBG at our 30 locations in Austria (www.lbg.at) or email us welcome@lbg.at – we will connect you with the right expert at LBG who is very familiar with your concerns.

May 26, 2017 Leer publicación