Get an immediate FREE trial of Orbitax's International Tax Research & Compliance Expert (ITRCE) software for 7 days.
News Share

The Tax Hub

Daily Tax Newsletter

Austria

Responsive image

Austria Approves Exchange of CbC Reports and Financial Account Information Under the Mutual Assistance Convention for Earlier Periods

On 11 July 2018, Austria's Federal Council (upper house of parliament) adopted two declarations approved by the National Council (lower house) on 4 July concerning the effective date of the multilateral agreements for the exchange of Country-by-Country (CbC) Reports (CbC MCAA) and for the exchange of financial account information (CRS MCAA), which provide for the relevant exchange of information under the Mutual Assistance Convention. Both declarations note that although the Mutual Assistance Convention generally applies for a party to the Convention from 1 January of the year following its entry into force for that party, information may be exchanged under the Convention in respect of earlier tax periods if agreed to by any two or more parties to the Convention. Based on this, the declarations provide that Austria has deemed the Convention effective in respect of the CbC MCAA and CRS MCAA for earlier periods in relation to other parties that have made similar declarations, irrespective of the taxable periods or charges to tax to which such information relates in the receiving jurisdiction.

With respect to CbC report exchange in particular, this means Austria is able to exchange reports in respect of the 2016 and subsequent fiscal years with a number of countries where the Mutual Convention is not otherwise effective for 2016, provided that such other party has also made a declaration for early exchange. Such countries include Brazil, Liechtenstein, Malaysia, Singapore, and Switzerland. It is expected that the OECD CbC exchange relationship webpage will be updated to reflect the change in status for early exchange.

Powerful Tax Tools

NEW

FX Rates

Global FX Rates including Tax Year Average FX Rates and Spot Rates for all Reporting Currencies.

NEW

Corporate Tax Rates

Corporate tax rates, surtaxes, and effective tax rates for the current year, as well as historical rates and approved future rates.

NEW

Country Analysis

Detailed tax guidance for companies doing business in over 100 countries, including summaries and snapshots of key tax facts and issues.

NEW

Cross Border Tax Calculator

Calculate total tax costs and benefits of a cross border transaction including withholding tax, participation exemption and foreign tax credit rules.

NEW

Cross Border Tax Rates

Provides Domestic, treaty and EU cross border tax rates for over 5,000 country combinations for 9 different payment streams.

NEW

OECD BEPS Project

Complete overview of the OECD BEPS Project, including daily BEPS news, country adoption of BEPS measures, and an overview of the 15 BEPS Actions.

NEW

Tax Calendar

Customizable calendar tool that tracks corporate income tax, value added tax and transfer pricing obligations by country or entity.

NEW

Tax Forms

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.

NEW

Worldwide Tax Treaties

Repository including thousands of tax treaties (in English), OECD, UN and US Models, relevant EU Directives, Technical Explanations, and more.

NEW

Worldwide Tax Planner

Calculates the worldwide tax cost of what-if scenarios based on legal entity structure, taxable income, and cross border transactions.

NEW

Certified Rates Report

Customizable Certified Rates Report providing updated corporate and withholding tax rates at the end of each month for over 100 countries.

NEW

Withholding Tax Minimizer

Enables quick calculation of tax costs and benefits of cross border transactions considering all possible transaction combinations and optimal routes.

NEW

VAT Rates

Provides value added tax (VAT) rates, goods and services tax (GST) rates and other indirect tax rates for over 100 countries.

NEW

NOL Calculator

Country specific calculator to determine how net operating losses can be utilized in carryback and carryforward years.

NEW

Transfer Pricing Calculator

Calculates TP ratios under various TP methods and calculates the difference between target ratios and actual ratios.

NEW

Individual Income Tax Rates

Individual tax rates for over 100 countries.

Play of the Day

Translate Documents

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.

We’re here to help

We’re here to answer any questions you have about the Orbitax products and services.

Send us a message

Who’s behind Orbitax?

We’re committed to providing high value, low cost tax research and management solutions.

Learn More