Vienna

Due to the ECB's decrease of the base rate also the interest rates appllied by the tax office were lowered.

European Union law must be interpreted as requiring that a taxable person who has overpaid value added tax which was collected by the Member State contrary to the requirements of European Union legislation on value added tax has a right to reimbursement of the tax collected in breach of European Union law and to the payment of interest on the amount of the latter. It is for national law to determine, in compliance with the principles of effectiveness and equivalence, whether the principal sum must bear ‘simple interest’, ‘compound interest’ or another type of interest (Case C‑591/10).

The period for the reimbursement of 2012 input VAT for non EU businesses in Austria but also for Austrian businesses in extra EU countries Ends in June 2013.

The Ministry of Finance has recently announced new rules for commuters benefitting employees and employers ("Jobticket") and bringing along drawbacks for employees with company cars.