Income Tax Rates in Austria for 2015

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Austria Income Tax Rates 2015 and Deductions

Austria Income Tax Rate for Individual Tax Payers (Proposed)

 
 

 

In Austria lowest Individual Tax Rate is 36.50% and Highest Rate is 50%

Taxable Income

Tax Rate %

0 - 11,000

0

11,001 - 25,000

36.50%

25,001 - 60,000

43.21%

Above 60,000

50%

 

Corporate Tax Rates in Austria

The corporate tax rate is 25%. There are no trade income or net worth taxes. Austrian corporations may benefit from the participation exemption and the group taxation (including cross-border loss utilization and goodwill depreciation for the acquisition of qualifying Austrian subsidiaries).

Capital Gains Tax in Austria

Capital gains realized from properties which were acquired as of 31 March 2002 is subject to capital gains tax at a flat rate of 25%. Taxable capital gains are calculated as selling price less acquisition costs and related expenses.

After a holding period of 10 years, sellers may decrease the capital gain by 2% per year as inflation reduction, up to a maximum of 50% deduction.

Capital gains realized from properties acquired before 31 March 2002 are taxed at specific different rates, either a flat rate of 15% on sales price or a flat rate of 3.5% on sales price, depending on several conditions. Sellers may also choose to be taxed at a flat rate of 25% on the capital gains.

 

 

 

Austria Social Security
The maximum social security rates in Austria are:
Employer -21.7%-21.83%%
Employee - 18.07%-18.2%

TDS (Deduction of Tax at Source) in Austria
Austria tax is deducted at source from the following payments to non residents:
Dividend- 25%
Interest- 0%/25%
Royalties- 20%
The tax withholding rates may be reduced under relevant double tax treaties.
The Austrian tax year is the calendar year.

VAT and Other Taxes in Austria
V.A.T - The standard V.A.T. rate in Austria is 20%. There is a reduced VAT rate of 10%.
The reduced VAT rate applies to tourism services, food and agriculture.
The threshold for VAT registration in Austria is an annual turnover exceeding EUR 30,000.

Other Taxes
Real Estate Tax, Real Estate Transfer Tax, Payroll Tax and Stamp Duty.

 

Austria Dates of filing Tax Returns / Reporting and Payment

In general, income tax is assessed for the calendar year on the basis of an individualís tax return, which should be filed by 30 April (if a paper version is filed) or 30 June (if filed electronically), respectively 30 September, in case salary is taxed via payroll, of the following year. An automatic extension up to 31 March of the next following year is granted if the individual is represented by a tax adviser. Further extensions are available on request in special circumstances.

Tax year-end 31 December.

Compliance requirements for tax returns in Austria
 

Residents
Generally, a tax return is required if the individualís taxable income exceeds EUR11,000. Income tax on employment income is generally withheld at the source. Still, a tax return is required in case the individual has additional income, not previously subject to employer withholdings, in excess of EUR730. Please note that for foreign income from investment a threshold of only EUR22 applies.

Non-residents
Non-resident individuals must file an income tax return whenever they have taxable income in excess of EUR2,000 from a taxable source, unless the withholding tax applied represents the final settlement of the tax liability. For calculation of the tax rate the income will be increased by a hypothetical figure of EUR9,000.

 

Consolidated Tax Returns
Companies can file consolidated tax returns when the holding of the parent company exceeds 50%.

 

 

 

 

 

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