tax law

Question 1

main taxes

Answer 1

income tax and

VAT 20%

Question 2

other taxes than the main two

Answer 2

wage tax 
corporation tax
real estate transfer tax
real estste tax
property tax
inheritance tax

Question 3

purpose of tax

Answer 3

financing funtion 
distributon of wealth
ability to pay principle
progressivity
tax collection

Question 4

taxation for individuals or sole entrepreneurs

Answer 4

unlimited personal income tax liability
-if owning a housing with permanent access than object to taxation of foreign and domestic income

limited personal income tax liability
if housing but not access then only pay tax on domestic income there

Question 5

taxation of partnerships

Answer 5

transparent taxation

-personal income of partners is taxed with redpective rates

Question 6

calculation of tax base

Answer 6

net equity comparison method (change in equity)
cash method (change in cash) 
avervae rate method

Question 7

net equity comparison method

Answer 7

how to reduce net income:

• short useful life and higher depreciation
• valuation if inventory
• ship ordees next year to reduce income this year

Question 8

cash method

Answer 8

reduce cash

• prepaid expenses
• buy assets under 800€
• postpone cash payments from customers

Question 9

carry forward of losses

Answer 9

only 75% of profit

time wise unlimited

Question 10

corporations

Answer 10

subject tu unlimited tax liability if seat or effective place if management in respective country

Question 11

domestic participation exemption

Answer 11

income derived by austrian corp from participating in another austrian corp (dividend)
-> not subject to income tax

Question 12

international holding participation

Answer 12

if income and capital gain from participating in a foreign company
not subject to corp tax if participation at least 10% and holding of more than a year