Read our insights, reports and more

The following support for companies was adopted by the Austrian National Council in an expedited procedure on March 15, 2020.

We are pleased to share an update regarding the application procedure for short-time work as a result of the Corona Virus situation:

Across the globe, the spread of the coronavirus is having a significant humanitarian impact and increasingly, an economic impact from stock markets to global supply chains. As governments move rapidly to contain the spread of the virus, global employers are also working to address how to manage employees in affected areas while continuing business operations. The daily developments in the spread of the virus have prompted the U.S. Center for Disease Control to note that the need to contain its advance could cause serious disruptions in work for employees. For multinational companies with global operations, the increased potential for employees to relocate across international borders, whether as part of business continuity strategies or for personal reasons, presents a range of unexpected tax issues to also address. By reviewing how governments are responding relating to individual tax compliance, employers can understand and address the tax risk areas they should consider as they formulate policies for working arrangements during the coming months.

Measures taken in connection with the rapid spread of the corona virus have completely changed the daily operations of most companies. In addition to the introduction of short-time work, many companies have enabled their employees to work from their home office in order to minimize the risk of infection of their employees. Since the nearest national border in Austria is often not far away, enabling employees to work from their home offices in foreign countries can quickly lead unintended tax consequences for both employees and their employer. Below, we would like to point out selected aspects in connection with the corona measures.

Five years after the global financial crisis struck, residual effects continue to impact public financial management (PFM) in countries throughout the world.