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Austria Considering Individual Income Tax and Withholding Tax Changes — Orbitax Tax News & Alerts

According to recent reports, Austria's ruling coalition is planning to propose change in individual income tax rates and withholding tax rates.

The individual income tax rate changes would include an adjustment in the brackets including a reduction in the lowest rate from 36.5% to 25%, and an increased rate of 55% on income exceeding EUR 1 million.

In regard to withholding taxes, the coalition is considering an increase in the dividends withholding tax rate from 25% to 27.5%, and the same increase for withholding tax on capital gains from the sale of shares.