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Austria

Investor tax reporting services

Although it is not mandatory, the Austrian tax reporting is key to entering the Austrian market as not reporting the fund has adverse consequences  for the investors’ taxable basis. As a result, an accumulated income, also referred to as Deemed Distributed Income (DDI), has to be calculated and electronically reported to investors by an Austrian tax representative.

Austrian tax reporting

Key Features

Target investors

Retail / Institutional

Up-front registration

Taxation mechanism

Income based

Deadline of the reporting

7 months after financial year-end

Special features

Distributions, mergers, liquidations

Complex tax adjustments

Target funds, REIT investments

Main features

Austrian investors are subject to annual taxation regardless of whether the income of the fund is distributed or accumulated.

Registration of share classes with Oesterreichische Kontrollbank (OeKB) is necessary to obtain the Austrian tax transparency status for share classes («Reporting Fund»). It is important to verify if your records of share classes are in line with the registered share classes in Austria before each calendar year-end.

Every year, the Austrian tax representative, e.g. PwC Austria, has 7 months (following the fund financial year-end) to calculate the taxable income and report the relevant tax buckets to OeKB based on the raw accounting data reconciled with the audited financial statements. OeKB is an Austrian intermediary bank that provides Austrian depository banks with the relevant tax information for further processing and publishes the reported tax figures on their website.

In the event of dividend distribution, the distribution reporting has to be carried out one day before the pay date at the latest. Distribution reporting is optional but favourable for Austrian investors.

Benefits of the regime

In the case the fund is not reporting, the fund will be considered as a "Black Fund" and investors will suffer a "lump sum" taxation at year-end (27.5% tax on the highest between 90% of NAV increase or 10% NAV) instead on the portion of taxable income that would have been determined for a reporting fund.

Scope of services

  • Annual and distribution reporting preparation;
  • Interim distribution reporting preparation;
  • Ongoing tax changes monitoring;

 

  • Tax and fund reporting regulatory watch;
  • Consultancy and fund structuring.

 

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Regulatory reporting services

Classification in accordance with the Austrian Quartalsmeldeverordnung (QMV)

Key Features

Target investors

Pension Funds

Periodicity

Quarterly

Deliverable

Compilation of a set of predefined template

Format

Standard excel format

Main features

Austrian pension funds need to provide an investments quarterly report to the supervisory authority (the Finanzmarktaufsichtsbehörde), according to the requirements defined in the QMV. In turn, pension funds will require investment funds that they have invested in to provide investment reports under QMV rules.

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Contact us

Oliver Weber

EMEA AWM Tax leader, Luxembourg AWM leader, PwC Luxembourg

Tel: +352 49 48 48 3175

Christian Heinz

Global Tax Compliance Leader, PwC Luxembourg

Tel: +352 621 33 2247

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