By the end of December 2023, Austria passed the Minimum Taxation Act (“Mindestbesteuerungsgesetz"; MinBestG), implementing the global minimum taxation into national law. The global minimum taxation is intended to ensure that (multi)national groups of companies with consolidated revenues of at least 750 million Euro are subject to an effective tax burden of at least 15 % worldwide. The Austrian Minimum Taxation Act is essentially based on the corresponding EU directive, but also takes into account the workings published by the OECD. Compliance obligations generally apply to each constituent entity located in Austria. As the new rules impose a huge administrative burden, affected groups and constituent entities should promptly deal with the transposition and implementation of the global minimum taxation.
