Austrian Parliament Approves Annual Tax Act 2018

On 11 July 2018, Austria's Federal Council (upper house of parliament) adopted the text of the Annual Tax Act 2018 as approved by the National Council (lower house) on 4 July. The legislation includes a number of measures, including measures to comply with the Anti-Tax Avoidance Directive (ATAD1) and other changes. These include:

• An adjustment of the current exit tax rules to bring them in line with ATAD1, which includes reducing the number of tax payment installments from seven to five and…