The Austrian Ministry of Finance has announced a package of measures to provide relief from rising inflation and energy prices. Specific tax-related measures include:
- 50% increase in the lump-sum deduction for commuting expenses and the quadrupling of the commuting allowance;
- Reduction in the specific energy taxes (natural gas tax and electricity tax) by approximately 90%; and
- Reduction in the advance payments for income tax and corporate tax to provide liquidity support for entrepreneurs a…