Tag Archives: Loss carry back

Austria: New draft legislation presented with wide-ranging COVID-19 relief and stimulus measures including loss carry-back, declining-balance depreciation

On 22 and 23 June 2020, the Austrian Ministry of Finance and Ministry for Economic Affairs presented an extensive package of draft tax legislation. The package includes measures that had been announced during a retreat of the federal government a week earlier.

Highlights include a temporary loss carry-back, a temporary cash premium for certain fixed-asset investments, and a declining-balance depreciation of up to 30%. The draft legislation may undergo changes in the parliamentary process prior to eventual enactment.

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