Austria Announces Tax Reductions, Exemptions for COVID-19 Relief
Austria recently announced measures to support its economy during the COVID-19 pandemic, including tax exemptions for certain imports and reduced value-added tax rates, according to a May 15 KPMG post. The measures include a customs procedure that “provides a tax…
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exemption for imports concerning delivery of another [European Union] country,” KPMG said. The country will also eliminate the VAT rate for supplies of protective masks supplied after April 13 and before Aug. 1, 2020.