Austria Tax

Key Points

• Austria has a progressive tax system with four income tax brackets.
• The tax rates range from 0% to 55%.
• There is also a corporate tax rate of 25%.
• Austria has a number of tax deductions and credits available to individuals and businesses.
• The Austrian tax year runs from January 1st to December 31st.

Detailed Summary

• Tax Brackets: Austria's income tax brackets are as follows: 0% for income up to €11,000, 20% for income between €11,000 and €18,000, 35% for income between €18,000 and €31,000, and 55% for income over €31,000.
• Corporate Tax Rate: The corporate tax rate in Austria is 25%.
• Tax Deductions and Credits: Austria offers a number of tax deductions and credits to individuals and businesses. These include deductions for expenses such as mortgage interest, charitable donations, and health insurance premiums. There are also credits available for child care expenses, research and development, and renewable energy investments.
• Tax Year: The Austrian tax year runs from January 1st to December 31st.

Conclusions

• Austria has a progressive tax system with relatively high tax rates.
• There are a number of tax deductions and credits available to individuals and businesses.
• The Austrian tax year runs from January 1st to December 31st.