Reporting to the tax office. ("Verf24")

The commencement of a commercial activity must also be reported to the Austrian tax office within one month.

The tax office (Finanzamt ) is responsible for all tax, revenue and donation matters, as well as for all tax regulations that affect natural or legal persons.

You submit the „Verf24“ form to the tax office, which you use to report your business activity and your expected profit. The tax office uses your profit forecast to determine whether or not you are liable for income tax. Therefore, do not underestimate the profit forecast and make the profit estimate as accurate as possible!

Please note!

It is not automatic that an income tax return must be submitted after the business activity has been reported. In principle, there is always an obligation to file an income tax return if:

a) The annual income from your self-employed activity exceeds 11,693 euros (value 2023);

b) If you are requested to do so by the tax office. The tax office can also ask you to submit your income tax return at a later date. This may be the case if the family carer deducts the childcare costs for tax purposes and the income tax threshold of EUR 11,693 (value 2023) is exceeded. Clarify this situation with the tax office as quickly as possible. In this way, you can avoid the tax office assessing your profit without your income tax return and possibly determining a high amount.

c) If no request is made, a distinction must be made as to whether or not you also receive income from employment or a pension in addition to your self-employment and how high this is.11 If the total income is higher than 12,756 euros/year (value 2023), an income tax return must be submitted.

Please note!

After you submit an income tax return, the calculation of contributions to the Social Insurance for the Self-Employed (‘SVS’) is no longer based on the statutory minimum contribution base, but on the income tax assessment. The social security contributions will be recalculated and you may have to make additional payments or receive a credit note.