Austria's Ministry of Finance has announced planned measures to reduce bureaucracy and create better conditions for SMEs and start-ups. This includes two main measures:
- An increase in the mandatory bookkeeping limit from EUR 700,000 to EUR 1 million in annual turnover, allowing more businesses to use simpler cash-basis accounting, instead of accrual accounting; and
- The introduction of a new option to capitalize intangible assets, allowing companies to include self-created intangible assets,…