viernes, 24 de marzo de 2017

Austria's MOF updates list of comprehensive administrative assistance agreement countries

The Austrian Ministry of Finance (MOF) has published an updated list of jurisdictions that have concluded a comprehensive administrative assistance agreement for tax purposes with Austria as of 1 January 2017. The official list (published on 13 December 2016) now includes 106 jurisdictions.
For a jurisdiction to be included on the list, its administrative assistance agreement with Austria must provide for the comprehensive exchange of information that goes beyond the scope necessary for the application of a tax treaty. The agreement generally can be based on the EU automatic exchange of tax information directive, the OECD multilateral convention on mutual administrative assistance in tax matters or acceptable information exchange clauses in a tax treaty or tax information exchange agreement.
By issuing the updated list, the MOF has confirmed which countries have concluded a comprehensive administrative assistance agreement with Austria, which is required for Austrian taxpayers and multinational groups to qualify for certain tax benefits under Austria’s tax rules, such as the following:

  • The ability to set off losses of foreign group members against Austrian group profits under Austria’s taxconsolidated group regime (a foreign subsidiary can be included in an Austrian tax-consolidated group only if the foreign subsidiary is tax resident in the EU or in a country that has concluded a comprehensive administrative assistance agreement with Austria);
  • The ability to set off losses of a foreign permanent establishment (PE) of an austrian resident company against profits of the Austrian head office, without the automatic recapture of such losses after three years (if the PE is located in a country that has not concluded a comprehensive administrative assistance agreement with Austria, recapture of the utilized losses for Austrian tax purposes is required by the third year after utilization against Austrian profits; otherwise, recapture is required only if (and when) the losses are utilized for tax purposes in the country of the PE); and
  • The ability to exempt from Austrian tax dividends from participations that do not fall within the scope of Austria’s international participation exemption, i.e. portfolio dividends from a shareholding of less than 10% (the exemption for portfolio dividends applies only if the payer company is resident in a country that has concluded a comprehensive administrative assistance agreement with Austria). 

Source: Deloitte

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