Coronavirus And Taxes

Due to the measures taken by the Austrian government in connection with the outbreak of the corona virus which has now affected Austria (e.g. home quarantine, cancellation of events, closure of shops/restaurants), liquidity shortages and payment difficulties for businesses seem more likely. Accordingly, the Austrian Ministry of Finance has taken the following measures:

• Taxpayers who can credibly prove that they are affected directly or indirectly by the Coronavirus crisis (e.g. sickness or quarantine or lost income because their business has to remain closed), can apply for a reduction of advance tax payments of income and corporate income tax (Herabsetzung von Einkommen- und Körperschaftssteuervorauszahlungen). This application can be made either electronically or by way of a sample form. The Austrian tax offices have to instantly decide on such applications.