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Austria
Overview
Last reviewed - 13 July 2023Austria, a landlocked country of approximately nine million inhabitants in Central Europe, is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the west. Austria is divided into nine federal states, with Vienna as the capital. The official language of Austria is German, and the currency is the euro (EUR).
Austria's economy features a large service sector, a sound industrial sector, and a small, but highly developed, agricultural sector. The Austrian economy has greatly benefited from its strong commercial relations to the Central and Eastern Europe (CEE) region, specifically in the banking and insurance sectors.
PwC has five regional offices in Austria (Vienna, Graz, Klagenfurt, Linz, and Salzburg) allowing proximity to our clients. With over 1,310 employees, the Austrian practice provides services in the areas of assurance, tax, and advisory. Further, PwC Legal is a full-service business law firm and covers all major areas of commercial law.
To provide our clients with a wider service offering, PwC Austria, Belgium, Germany, Switzerland, the Netherlands, and Turkey have formed an alliance. Through this partnership, PwC Austria is able to increase its number of services and adjust to customers' needs on a variety of issues, whether they are a purely Austrian private or public operation or an international conglomerate.
Quick rates and dates
| Corporate income tax (CIT) rates | |
|---|---|
| Headline CIT rate (%) |
24 (until 2022 this rate was 25%. It was reduced to 24% in 2023 and will further decrease to 23% in 2024) |
| Corporate income tax (CIT) due dates | |
|---|---|
| CIT return due date |
Generally: 30 June of the following year; If submitted by certified tax advisor: 31 March of the second following year. Due to the COVID-19 pandemic, the deadline for filing the tax returns 2021 was extended until 30 September 2023. |
| CIT final payment due date |
Final settlement is due subsequent to the annual assessment (payment falls due one month after assessment). |
| CIT estimated payment due dates |
Quarterly instalments. |
| Personal income tax (PIT) rates | |
|---|---|
| Headline PIT rate (%) |
55 (until 2025, after that it will be 50%) |
| Personal income tax (PIT) due dates | |
|---|---|
| PIT return due date |
Paper form: 30 April of the following year; Electronic filing: 30 June of the following year; If submitted by certified tax advisor: 31 March of the second following year. |
| PIT final payment due date |
Final settlement is due subsequent to the annual assessment (payment falls due one month after assessment). |
| PIT estimated payment due dates |
Quarterly instalments |
| Value-added tax (VAT) rates | |
|---|---|
| Standard VAT rate (%) |
20 |
| Withholding tax (WHT) rates | |
|---|---|
| WHT rates (%) (Dividends/Interest/Royalties) |
Resident: 0 or 27.5 / 0 or 24 or 27.5 / 0; Non-resident: 0 or 27.5 / 0 / 0 or 20 |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
Capital gains are subject to the normal CIT rate. |
| Headline individual capital gains tax rate (%) |
27.5 |
| Net wealth/worth tax rates | |
|---|---|
| Headline net wealth/worth tax rate (%) |
NA |
| Inheritance and gift tax rates | |
|---|---|
| Headline inheritance tax rate (%) |
NA |
| Headline gift tax rate (%) |
NA |
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