Austria's newly formed government has published its Program for 2020-2024, which includes plans for several tax reform measures. Some of the key measures include:
- Reducing the second, third, and fourth individual income tax bracket rates from 25%, 35%, and 42% to 20%, 30%, and 40% as well as potential inflation adjustment to the bracket threshold to address bracket creep;
- Increasing the base for the corporate tax-free allowance from EUR 30,000 to EUR 100,000, which results in a deduction of…