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Audit of annual and consolidated financial statements
We place particular emphasis on customized solutions and international service and adapt our services to your needs.
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Assurance related advisory services
Assurance related advisory services are based on the knowledge and expertise that are the staff of life of our auditors.
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Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
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Accounting related consulting
Accounting in accordance with UGB, US-GAAP or IFRS is in constant motion. The integration of new regulations into their own accounting systems poses special challenges for companies.
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Corporate Tax
We are your problem solvers for corporate tax issues
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Restructuring, Mergers & Acquisition
Expertise and creativity for the perfect structure
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International Tax
We are here, whenever our clients require our assistance
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Transfer pricing
We are your experts for an optimal transfer pricing structure
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Indirect Tax & Customs
We take care of your indirect taxes so you can take care of your business
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Private Wealth
We are your competent partner in the field of Private Wealth Tax Services
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Real Estate Tax
We are a valuable partner at every stage of your property's life
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Global Mobility Services
Local roots and global networking as a secret for successful assignment management
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Advisor for Advisor
As advisors for advisors, we support in complex situations
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Valuation
Valuations are a core competence of Grant Thornton Austria. As auditors and tax advisors we combine profound know-how with our practical experience to offer you customized solutions for your valuation assignment. Our industry expertise is based on years of services to our clients, including listed companies as well as owner-managed companies with an international focus. We advise on valuation matters related to arbitration and provide expert opinions.
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Forensic Services
When it comes to risks in business, our experts are on hand. We support you not only in suspicious cases or in disputes, but also develop suitable strategies in the area of prevention to avoid serious cases as far as possible. Our Cyber Security team helps you to keep your networks and applications secure and is quickly on hand in the event of a security leak.
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Transaction Support
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
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Sustainability Services
Sustainability is no longer a trend, but the only way to create a future worth living. Our experts will support you in successfully developing your sustainability strategy and preparing your sustainability reporting in compliance with regulations.
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Merger & Acquisition
Companies start new activities and separate from old ones, cooperate and merge. Markets and competitive conditions are subject to constant and increasingly rapid change. As a result, existing business models are changing. Some companies have to restructure and reorganize. But new business opportunities also open up.
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Restructuring & Going Concern Forecast
Restructuring & Going Concern Forecast: Bundled services for your strategic, operational and financial decisions offer the right answers for companies, banks, shareholders and investors.
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Internal Audit
Internal Audit helps companies and organisations to achieve their goals by analysing and evaluating the effectiveness of risk management, controls and management and monitoring processes. Internal Audit focuses on independent and objective audit (assurance) and consulting services that improve the value creation and business activities of your company.
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Expert dispute resolution & advisory
Grant Thornton Austria offers comprehensive services in the field of business-oriented expert services with a broad range of competencies from banking to communication. The core activity of experts is the objective recording of findings and the preparation of expert opinions - regardless of all external circumstances. Our experts Gottwald Kranebitter and Georg H. Jeitler, as sworn and court-certified experts, ensure that the highest professional standards and the principle of objectivity are observed.
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Blockchain and Crypto-Asset
Blockchain as a carrier technology for crypto currencies and smart contracts, among other things, is becoming increasingly important. Grant Thornton Austria offers comprehensive audit and confirmation services for block chain technologies and business models.
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Corporate & Brand Strategy
We support you in developing growth strategies for a sustainably successful future and in maximizing the potential of your brand.
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Cyber Security
Cyber incidents, IT system failures, the resulting business interruptions and the loss of critical data are one of the greatest business risks for companies. Recent cases underline the need for strategic protection and awareness of the issue and require a holistic approach and technical expertise that takes into account all legislative, regulatory and technical aspects of cyber security to protect companies against the daily increase in cybercrime incidents.
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International Project Coordination
Our International Engagement Management team is your central point of contact for international projects in all our service lines. We take care of operational project management for you and act as a central point of contact and coordination for your projects. We support companies that start international projects from Austria as well as companies from abroad that want to gain a foothold in Austria or use Austria as a hub for their international projects, especially in the DACH (Germany, Austria and Switzerland) and CEE region.
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International Desks
As a member of the Grant Thornton network, we guarantee direct access to resources from our worldwide circle of partners. This global connection enables us to seamlessly integrate highly qualified specialists and industry experts from different countries around the world into our teams. Through our broad perspective and diverse expertise, we ensure that we can optimally meet the individual requirements of our clients in an increasingly globalised economy.
Vienna’s position on the doorstep of Central and Eastern Europe (CEE) make it the ideal location for international businesses to take advantage of new trading opportunities opening up between the western and eastern Europe.
“Export and foreign trade have always been crucial to Austria, and Vienna is perfectly placed to take advantage of this,” explains Andrew Dickson, International Business Director at Grant Thornton Austria. “It is firmly established as a gateway city and probably has been for more than 400 years, since the time of the Hapsburg empire.”
“Around 25% of the population of Vienna actually have a migration background: the vast majority of those are from central and eastern Europe and the Balkans. And the trading links that the city has with other countries have been there for a long time – they are already significant but we see further potential to develop.”
Dickson adds: “Vienna is right on the eastern border of the country, which means that it is on the doorstep of economies like Slovakia, Czech Republic and Hungary. It has access to a market of 300 million people within a five-hour drive – so it is perfectly placed in terms of logistics.”
An ideal place to set up
“Another important factor is that Vienna is a very attractive place both for companies and for individuals to come to,” Christoph Schmidl, Partner at Grant Thornton Austria, points out. “From an individual’s point of view, Vienna is a very safe city to live in and there are a wide range of activities from culture to outdoors activities. A lot of people come here with children and we have an excellent and broad educational system, from schools to universities.”
Indeed, Vienna has been ranked the most liveable city in the world for the 10th year in a row by the Mercer Quality of life survey., a study that takes into account a wide range of economic, environmental, cultural, infrastructure and health factors.
“Meanwhile, from a company perspective, Austria has a high number of double-taxation agreements with other countries,” Schmidl adds. “And we have a regime known as group taxation where we can put the taxable results of a group of companies into a single pot and have taxation only at one level.” This means businesses can include foreign group companies in Austrian taxation – so, for example, if a Viennese business has a subsidiary in Slovakia which is showing a loss, this loss can be used to reduce the corporate income tax burden in Austria. “There are also favourable tax rules for expats,” he says.
Startup success
While Austria has a strong automotive and manufacturing sector across much of the country, Vienna’s focus is more in sectors such as financial and professional services – especially banking, legal and insurance. “There are over 400 international companies which have their regional or international headquarters in Vienna itself,” Dickson explains. “Samsung, Shell, McDonald’s, HP, Siemens and DHL all have regional headquarters here.”
But Vienna can also boast a thriving startup scene, underpinned by strong research and development incentives from the government as well as the city’s highly skilled workforce. Schmidl says: “We have a very strong biotech sector and software development is getting more and more important. Over the past few years the government has steadily increased R&D grants, so the environment will get even more attractive for companies.”
The Austrian Business Agency can provide assistance and advice to businesses thinking of setting up in Vienna, Dickson says.
Gateway to central and eastern Europe
As a key member of the EU, Austria has unfettered trading access to economies across the continent – and Vienna is the ideal place to take advantage of these opportunities, especially in eastern and central regions.
The city’s attractive business tax regime and high quality of life are two more compelling reasons to come here.
Want to know more?
Vienna’s trading history and excellent business environment make it the ideal gateway for companies looking to expand into central and eastern Europe, as well as other EU member states. To find out more about establishing your business here, contact Andrew Dickson or Christoph Schmidl.
Vienna quick facts
- Location: Eastern Austria
- Time zone: Central European Time GMT +0100
- Population: 1.9 million
- GDP: US$105 billion, 2018 [1]
- Industrial strengths: Financial and professional services, technology
- Growth sectors: Biotech, fintech, software
- Regional access: Budapest 45 minutes by air; Munich 1 hour; Berlin 1 hour 20 minutes; Rome 1 hour 40 minutes; Paris 1 hour 50 minutes.
[1] WKO