Austrian Government Approves Additional COVID-19 Relief Measures

The Austrian government has approved additional tax measures for rescue, relief, and investment in light of COVID-19. The additional measures include:

• A reduction in the lower individual income tax bracket rate from 25% to 20%, which was previously planned to be introduced in 2021;
• The introduction of a declining balance depreciation option for an unlimited period, with up to 30% depreciation of capital assets in the first year;
• The introduction of an investment premium of up to 14%;
• The int…