Invoicing and Tax regulation in Austria
Invoicing Regulation in Austria
In Austria, it's mandatory to include specific information on invoices, like the full names and addresses of the supplier and customer, the invoice number, VAT ID number of the supplier, invoice date, description of goods/services, and amounts excluding and including the VAT. Non-compliance can lead to sanctions or fines.
Real-time Reporting / Fiscalization in Austria
Austria mandated real-time reporting to the tax authority since April 2020 for all businesses in B2B, B2C, and B2G transaction, this is known as fiscalization. The process involves real-time registration and taxation of all sales of goods and services.
E-invoicing in Austria
E-invoicing in Austria is voluntary for B2B and B2C transactions. However, for B2G transactions, it is mandatory since January 2014. All suppliers that invoice federal government departments must submit their invoices electronically through the e-Rechnung.gv.at platform.
VAT/GST/Tax Compliance in Austria
The standard VAT rate in Austria is 20%, with reduced rates of 10% and 13% applying to certain goods and services. VAT is applicable for B2B, B2C, and B2G transactions and is compulsory. Timely submission of VAT returns and payments is necessary to avoid administrative sanctions and penalties. Non-EU businesses are generally expected to register for VAT in Austria soon after they commence taxable supplies.