The law applies to financial years beginning after June 21, 2024.
The National Council on July 5, 2024, passed the law implementing the EU public country-by-country (CbC) reporting directive (EU Directive 2021/2101)—the Federal Act on the Publication of Country-by-Country Income Tax Information Reports (CBCR Publication Act – CbCR-VG).
The law applies to financial years beginning after June 21, 2024. For financial years that are the same as the calendar year, a public CbC report must therefore be prepared and published for the first time for 2025.
Key changes from the draft law (read TaxNewsFlash) include:
The Federal Ministry of Finance on June 14, 2024, released a draft Maintenance Decree 2024 on the Transfer Pricing Guidelines 2021, which would incorporate elements of the OECD Transfer Pricing Guidelines 2022 and make other various amendments.
Read a July 2024 report (German) prepared by the KPMG member firm in Austria
For more information contact a KPMG tax professional:
[ONLY INCLUDE AS NEEDED - KPMG Contact Name] | [emailaddress@kpmg.com]