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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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Bookkeeping & Financial accounting
Financial accounting is the basis for many decisions in the company. Only those who prepare their figures clearly and get a good overview of their company can recognize weak points in time and react to negative developments. The use of state-of-the-art software (BMD) allows you to access your figures at any time. Digital document management and a document management system for data archiving are a matter of course. We take care of your financial accounting.
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Preparation of annual & consolidated financial statements
Depending on the size of your company and the legal form chosen, you are obliged to prepare annual financial statements. In addition, shareholders, owners and management want to be provided with financial information on a regular basis. We support you in fulfilling your recording obligations and thus ensure that you present companies, the bank and other addressees with meaningful and reliable figures.
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Payroll Services
Payroll services are among the subject areas that are changing rapidly and constantly gaining in complexity. This is where tax law, social security law, labour law, residence law and other legal matters come together. Our experts will help your team to stay up-to-date and solve complex issues. But we are also happy to take care of your entire payroll accounting.
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Tax Compliance
Tax authorities keep entrepreneurs and freelancers constantly engaged with tax issues, so they play a central role in almost every business decision. Depending on your needs, our services range from the preparation of tax returns, the execution of tax calculations with a thorough review of the data as a basis for assessment, to international tax compliance for several countries.
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Robotic Process Automation (RPA)
Robotic Process Automation (RPA) is a software-based technology that mimics a series of activities within and between systems based on a set of instructions typically to complete a process.
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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.
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.
Permanent Establishments in other countries
In the past, multinational corporations have experienced that, in reaction to certain events, employees are prone to change their residence. Additionally, the geographical circumstances of Austria enable employees to keep their residence in one of Austria’s neighboring countries, while still working in Austria during the week.
The activity of an employee in a country in which the employer previously had no branch office or permanent establishment often involves the risk for the employer that the employee's activity abroad will result in a permanent establishment (PE) for corporate tax purposes.
Under certain circumstances, an employee's private home office may be regarded as a 'fixed place of business’ which establishes a PE for the employer. This would lead to a limited taxation right of the foreign state with regard to the income that is attributable to the home office, which now qualifies as a permanent establishment. In this case, tax returns may have to be submitted abroad and corporate income tax may have to be paid.
Construction work may constitute a permanent establishment for income tax purposes if it exceeds a certain duration. The duration varies depending on the applicable double taxation treaty and is usually between 6 and 24 months. The period starts with the first activity on the construction site (with the exception of the delivery of goods) and normally ends when the plant is handed over to the customer. Generally, a halt to construction, such as that resulting from the current corona measures, does not interrupt the tax treaty terms. However, many countries have taken relief measures for taxable companies due to the current situation. We therefore recommend clarifying with the respective tax authorities whether a deadline suspension may be assumed due to the current situation.
Taxation of employees
Unlimited tax liability
In many countries, longer periods of physical stay will lead to unlimited tax liability. In Austria, for example, unlimited tax liability is established not only in the case of a domestic residence, but also in cases of a 'habitual residence' in Austria. In any case, a habitual residence is assumed in the case of a stay of more than six months, whereby, according to the Austrian view, involuntary stays, e.g. due to quarantine measures, illness or exit restrictions, are included as well. Unlimited tax liability constitutes the general claim of a country to tax the world income of a person. Double taxation agreements can of course allocate taxation rights differently.
Taxation rights in connection with postings
Double tax treaties regularly provide for an exclusion of a country’s right of taxation in the case of postings to countries outside an employee’s country of residence for more than 183 days within a certain period of time, if they have no employer in that state and if the employer does not have a permanent establishment in that country. Measures taken in connection with the Corona crisis may now lead to a change in the tax assessment regarding the 183-day period. In the event of premature termination of postings, any planned exceeding of the 183-day period may be omitted. Conversely, exit restrictions and quarantine measures could lead to an unscheduled tax liability arising from exceeding the 183-day period. In many cases, a reassessment of the tax situation will be necessary. In any case, we recommend keeping a calendar showing the days of residence and activity in the respective countries.
Cross-border commuters
Austria has adopted in agreement with some of its neighboring countries (e.g. Germany) a ‘cross-border commuter regulation’, which exceptionally provide for a right of taxation of the country of residence, although the employees concerned work in the neighboring state. Whether a temporary stay in the country of residence (e.g. for home office work or due to temporary business interruptions) affects the applicability of the cross-border commuter regulations is currently unclear and remains to be clarified by the authorities.
If you have any questions on the topics mentioned above, our experts are happy to be at your disposal. To assist you in these unusual and challenging times, we would be happy to work together with our international colleagues to determine your company’s tax risks as well as possible tax reliefs.