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Austria Introduces Measures to Provide Relief from Rising Inflation and Energy Prices — Orbitax Tax News & Alerts

The Austrian Ministry of Finance has announced a package of measures to provide relief from rising inflation and energy prices. Specific tax-related measures include:

  • 50% increase in the lump-sum deduction for commuting expenses and the quadrupling of the commuting allowance;
  • Reduction in the specific energy taxes (natural gas tax and electricity tax) by approximately 90%; and
  • Reduction in the advance payments for income tax and corporate tax to provide liquidity support for entrepreneurs and companies.

These and other measures will apply until 30 June 2023.