Tax Consulting In Austria: An Expats Guide

Tax Consulting In Austria

Venturing into the world of Austrian taxes without a guide can feel like skiing down the Alps blindfolded—not advisable and potentially disastrous. Worry Not! We’ve got you covered for this!

Whether you’re a local entrepreneur or an international business navigating the intricacies of Austria’s tax landscape, our comprehensive guide to tax consulting in Austria is your indispensable map. From income tax nuances to VAT intricacies, we’re here to ensure your fiscal journey is both smooth and compliant.

Let’s dive in!

What Is A Tax Consultant?

Tax Consulting In Austria 1

A tax consultant is a financial expert who provides advice and assistance to individuals, businesses, or organizations in managing their tax-related matters efficiently and effectively. 

These professionals are knowledgeable about tax laws, regulations, and procedures and use this expertise to help clients minimize their tax liabilities while ensuring compliance with the law. 

Tax consultants offer a range of services, including tax planning, preparation of tax returns, representation during tax audits, and advising on tax implications of financial decisions. 

They work closely with their clients to understand their specific financial situations and develop customized strategies to optimize their tax outcomes. 

By staying updated on the latest tax laws and regulations, tax consultants provide invaluable guidance to help clients navigate the complexities of the tax system and achieve their financial goals.

Key Roles And Responsibilities

Tax consultants play several key roles and have various responsibilities.

  • Tax Planning: Tax consultants analyze clients’ financial situations and goals to develop tax planning strategies that minimize their tax liabilities while maximizing their financial outcomes. This involves identifying opportunities for tax deductions, credits, exemptions, and other tax-saving measures.
  • Tax Compliance: Ensuring clients comply with tax laws and regulations is a fundamental responsibility of tax consultants. They prepare and file accurate tax returns on behalf of their clients, meeting all deadlines and requirements set by tax authorities.
  • Tax Advice: Tax consultants provide expert advice on various tax matters, such as structuring business transactions, investments, and estate planning to optimize tax efficiency. They help clients understand the tax implications of their financial decisions and recommend appropriate courses of action.
  • Representation: Tax consultants represent clients in dealings with tax authorities, including responding to inquiries, audits, and appeals. They advocate on behalf of clients to resolve tax disputes and negotiate settlements when necessary.
  • Compliance Monitoring: Tax consultants monitor changes in tax laws, regulations, and rulings to ensure clients remain compliant and informed about any potential impact on their tax obligations. They proactively advise clients on necessary adjustments to their tax strategies to adapt to changing tax environments.
  • Client Education: Educating clients about tax laws, regulations, and their implications is another important role of tax consultants. They provide guidance and training to help clients understand their tax obligations and make informed financial decisions.
  • Risk Management: Tax consultants assess the tax risks associated with various financial transactions and activities undertaken by clients. They develop strategies to mitigate tax risks while maximizing opportunities for tax savings within the bounds of legal compliance.
  • Specialized Expertise: Some tax consultants specialize in particular areas of taxation, such as international tax, estate planning, or corporate tax. They provide specialized expertise to clients facing complex tax issues specific to their industry, jurisdiction, or unique circumstances.
  • Tax Research: Tax consultants conduct thorough research on specific tax issues and interpret complex tax laws and regulations to provide accurate advice to clients. They stay updated on changes in tax legislation, case law, and administrative rulings that may impact clients’ tax positions.
  • Tax Efficiency Strategies: Tax consultants design tax-efficient structures and strategies for businesses, investments, and transactions to optimize tax outcomes. They consider factors such as entity selection, depreciation methods, tax credits, and timing of income recognition to minimize tax burdens.

Overall, tax consultants play a crucial role in helping individuals, businesses, and organizations navigate the complexities of the tax system, minimize tax liabilities, and achieve their financial objectives.

Why Is Using A Tax Advisor Or Consultant Important?

Tax Consulting In Austria 2

Navigating the complexities of tax laws can be tough. A tax advisor or consultant provides invaluable expertise to optimize your financial strategies and ensure compliance, ultimately saving you time, money, and headaches.

Using a tax advisor or consultant can be important for several reasons:

  • Expertise And Knowledge: Tax laws and regulations are complex and can change frequently. Tax advisors are trained professionals who stay up-to-date with these changes and have in-depth knowledge of tax codes, deductions, credits, and exemptions. They can help you navigate the complexities of the tax system and ensure that you are taking advantage of all available tax-saving opportunities.
  • Tax Planning: A tax advisor can assist you in developing a tax strategy tailored to your specific financial situation and goals. They can help you minimize your tax liability through strategic planning, such as timing income and deductions, maximizing retirement contributions, or structuring your business in a tax-efficient manner.
  • Compliance: Tax laws are enforced by various government agencies, and non-compliance can result in penalties, fines, and legal issues. Tax advisors can ensure that you are in compliance with all relevant tax laws and regulations, reducing the risk of costly mistakes.
  • Audit Support: In the event of an audit by the tax authorities, having a tax advisor on your side can provide valuable support. They can represent you during the audit process, help gather documentation, and negotiate with the tax authorities on your behalf.
  • Saving Time And Stress: Dealing with taxes can be time-consuming and stressful, especially if you have a complex financial situation. Hiring a tax advisor can save you time and alleviate the stress associated with tax preparation and planning, allowing you to focus on other aspects of your life or business.
  • Optimizing Returns: Tax advisors can help you maximize your tax refunds or minimize the amount you owe by identifying all eligible deductions, credits, and exemptions. They can also provide advice on tax-efficient investment strategies and financial decisions.
  • Estate And Succession Planning: For individuals with significant assets, proper estate planning is essential to minimize estate taxes and ensure the smooth transfer of assets to heirs. Tax advisors can work with estate planning attorneys to develop comprehensive strategies that address your wishes while minimizing tax implications.
  • Financial Advice Integration: Tax advisors often work closely with other financial professionals, such as financial planners, investment advisors, and attorneys, to provide holistic financial advice. This integration ensures that your tax planning aligns with your overall financial goals and strategies.
  • Customized Advice: Tax advisors provide personalized advice based on your unique financial circumstances and goals. They can offer solutions tailored to your specific needs, whether you’re an individual taxpayer, a small business owner, or a large corporation.
  • Strategic Planning: Tax advisors can assist with long-term tax planning strategies that go beyond just filing annual returns. They can help you plan for major life events such as buying a home, starting a business, or retiring, ensuring that you make tax-efficient decisions that align with your overall financial objectives.

How Much Do Tax Consultants Cost In Austria?

Tax Consulting In Austria 3

In Austria, the cost of tax consultancy services can vary based on several factors, including the type of tax consulting needed, the extent of the work required, and the specific expertise of the tax consultant. 

Generally, tax consultants in Austria may charge an hourly rate or a flat fee for their services. 

Hourly rates can range from €80 to €250 or more per hour, while flat fees for specific services such as tax return preparation can range from €200 to €1,000 or more.

The pricing models and fees for tax consultants depend on these factors, and it’s essential to consider them when engaging with these financial professionals.

Factors Affecting Costs

  • Type Of Tax Consulting: The cost of tax consultancy services can depend on the specific type of tax consulting needed, such as general tax advice for small and medium-sized enterprises (SMEs), freelance workers, and private individuals, advice on restructuring, international tax configuration, and continuous information on tax treaty changes.
  • Extent Of Work: The amount of work required to process taxes, including representation in dealings with tax authorities, audits, and fiscal penal proceedings, can also influence the cost of tax consultancy.
  • Expertise And Specialization: The expertise and specialization of the tax consultant in particular fields of tax advisory and accounting can be a factor in determining the cost of tax consultancy services.

Average Costs

For individuals who are employees, the cost of a tax declaration in Austria can range from €300 to €1,000, with prices varying significantly. 

However, it’s important to note that the prices can vary widely, and it’s advisable to use a cost estimator to estimate the specific costs.

Additionally, specific tax consultancy services, such as assistance with income tax refunds, may have varying costs based on the individual’s circumstances and the complexity of the case. 

It is a good idea to contact several tax consultants in Austria to inquire about their fees and services to find one that fits your needs and budget.

What To Look For In A Tax Advisor?

Tax Consulting In Austria 4

When searching for a tax advisor in Austria, it’s essential to consider several factors to ensure you find the right professional for your needs. Here’s what you should look for:

  • Qualifications And Credentials: Ensure that the tax advisor is properly qualified and registered with the relevant authorities in Austria. Look for certifications such as Steuerberater (tax advisor) or Wirtschaftsprüfer (certified public accountant).
  • Experience: Seek out a tax advisor with experience in handling situations similar to yours, whether you’re an individual, a freelancer, a small business owner, or a corporation. Experience with Austrian tax laws and regulations is crucial.
  • Specialization: Some tax advisors specialize in specific areas such as international tax, VAT, corporate taxation, or individual taxation. Choose an advisor whose specialization aligns with your needs.
  • Reputation And References: Check reviews and testimonials from previous clients to gauge the reputation of the tax advisor. Additionally, ask for references and follow up with them to get insights into their experiences.
  • Communication Skills: Effective communication is key in any advisory relationship. Look for a tax advisor who can explain complex tax matters in a clear and understandable manner and who is responsive to your questions and concerns.
  • Availability: Consider the availability of the tax advisor, especially during peak tax seasons or when you might need urgent assistance. Ensure that they are accessible when you need them.
  • Ethical Standards: Choose a tax advisor who adheres to high ethical standards and demonstrates integrity in their dealings. Avoid advisors who engage in unethical practices or promise unrealistic outcomes.
  • Technology And Tools: A tax advisor who utilizes modern technology and tools can streamline processes, improve accuracy, and provide better service. Inquire about the software and tools they use to manage tax matters.
  • Fee Structure: Understand the fee structure of the tax advisor upfront. Some may charge hourly rates, while others may offer fixed fees or retainer arrangements. Make sure you’re comfortable with the pricing and that there are no hidden costs.
  • Chemistry And Trust: Lastly, trust your instincts and choose a tax advisor with whom you feel comfortable discussing your financial matters. Building a good rapport and trust is crucial for a successful advisory relationship.
  • Knowledge Of Tax Laws And Regulations: Ensure that the tax advisor has a comprehensive understanding of Austrian tax laws and regulations. Tax regulations can be complex and subject to frequent changes, so it’s crucial to work with someone who stays updated and can provide accurate advice.
  • Problem-Solving Skills: Look for a tax advisor who can think critically and creatively to find solutions to tax-related issues or challenges you may face. They should be able to tailor their advice to your specific circumstances and goals.
  • Industry Experience: If you operate in a particular industry or sector, consider choosing a tax advisor who has experience working with clients in that industry. They may have insights and knowledge about industry-specific tax considerations that could benefit you.
  • Network Of Professionals: A tax advisor who has a strong network of professionals, such as lawyers, financial advisors, or international tax experts, can provide holistic advice and support for your financial needs beyond taxation.
  • Client Service Approach: Assess the tax advisor’s approach to client service. Do they take a proactive approach in identifying tax-saving opportunities and providing strategic advice? Are they willing to go the extra mile to help you achieve your financial goals?

Best Tax Advisor In Austria Overall

When it comes to managing your taxes in Austria, finding the right advisor can make all the difference. From navigating complex regulations to maximizing deductions, having expert guidance is essential. 

In this section, we’ll explore some of the best tax advisors in Austria overall, helping you make informed decisions for your financial future.

Steuerexperten.at

Tax Consulting In Austria 5

Steuerexperten.at has been praised for its competence, high professionalism, and stable, trusting relationships with clients. 

It has been recognized as the Best Tax Consultant of the Year and is a member of Tax Consultancy Associations CFE and KSW.

Contact Information:

  • Address: Rosenbursenstrasse 2/21, 1010 Vienna
  • Timings: Mo.- Fr.: 8:00 – 12:00 und 13:00 – 16:00
  • Phone: +43 1 512 5009 (DE), +43 1 512 5009 16 (RU, ENG)
  • Website: Steuerexperten.at
  • Email: office@steuerexperten.at
  • Whatsapp: +43 664 9268767

They do tax consultation in the following areas:

  • Tax law
  • International tax law
  • Taxation of real estate
  • Taxation of investment assets
  • Tax proceedings and tax audits

Get Started With Steuerexperten.at 🔥

TPA Group

Tax Consulting In Austria 6

TPA Group is known for its top expertise in tax advisory, accounting, and business consultancy. 

The company’s leadership team specializes in various fields of expertise, and they offer a filter function on their website to find the appropriate tax advisor.

Contact Information

Their tax advisory covers the following areas:

  • Building-Owner Investment Schemes
  • Corporate Tax Law / Consulting Services for Large Corporations
  • Covid-19 / Subsidies
  • Criminal Tax Law Advising
  • Expats
  • Financial Due Diligence
  • Formation and Succession Advisory
  • Investment funds
  • Legal Structure Consultancy
  • National and international transactions support
  • Private Trusts & HNWI
  • Real Estate Fund Consultancy
  • Real Estate Tax Law / Consulting Services for Real Estate Companies
  • Real estate transactions
  • Risk Management
  • Subsidy Advisory
  • Tax Advising
  • Tax Due Diligence
  • Tax Related Special Issues
  • Tax Structuring / National & International
  • Transfer Pricing
  • Valuation
  • VAT Structuring / National & International

Get Started With TPA Group 🔥

ARTUS

Tax Consulting In Austria 7

ARTUS provides comprehensive support and forward-looking advisory services, including tax structure for activities on the Austrian market, organization of bank and lawyer contacts for company launches, and long-term family development planning.

Contact Information

  • Branch 1 Address: Stubenring 24, 1010 Vienna
  • Branch 1 Phone: +43 50 2788
  • Branch 1 Email: wien@artus.at
  • Website: ARTUS
  • Branch 2 Address: Wassergasse 3, 2500 Baden
  • Branch 2 Phone: +43 50 2788
  • Branch 2 Email: baden@artus.at

Their tax consultation covers the following areas: 

  • Reorganisation
  • Handing over
  • Int. Tax Planning
  • Tax & Fees Audit
  • Social Insurance
  • Foundations & Associations
  • Real Estate
  • Winegrower and agriculturalis

Get Started With ARTUS 🔥

Vienna CityTax Steuerberater GmbH

Tax Consulting In Austria 8

This company offers a range of services, including advice on social security and labor law, representation in official audits, business management consultancy, and legal advice in areas such as business law, company law, and contract law.

Contact Information

They give comprehensive advice in the following areas:

  • Business Law
  • Company Law
  • Trade Law
  • Bankruptcy Law
  • Contract Law

Get Started With Vienna CityTax Steuerberater GmbH 🔥

Taxconsultancy.at By Simon Bagnis

Tax Consulting In Austria 9

This company specializes in income tax refund services and is certified as an Austrian tax consultancy. They can apply for refunds on behalf of clients and have direct access to clients’ tax accounts, ensuring a short processing time.

Contact Information

They specialize tax consultation in the area of income tax.

Get Started With Taxconsultancy.at by Simon Bagnis 🔥

KPMG Austria

Tax Consulting In Austria 10

KPMG is a global network of professional firms providing audit, tax, and advisory services. 

In Austria, KPMG offers a wide range of tax consulting services for businesses and individuals, including corporate tax, international tax, and transfer pricing.

Contact Information

Their services cover the following industrial sectors:

  • Consumer Markets
  • Real Estate Industry
  • Industrial Markets
  • Technology, Media & Telecommunication
  • Healthcare

Get Started With KPMG Austria 🔥

Deloitte Austria

Tax Consulting In Austria 11

Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax, and related services. 

In Austria, Deloitte offers comprehensive tax consulting and advisory services, including tax compliance, indirect tax, and tax technology solutions.

Contact Information

Their services cover the following aspects:

  • Tax Transformation
  • Advisory & Transactions
  • Outsourced Compliance
  • Technology Consulting
  • Mobility, Payroll, HR & Immigration
  • Rewards, Employment Tax, Share Plans
  • Workforce Solutions
  • Sustainability & Climate

Get Started With Deloitte Austria 🔥

EY Austria

Tax Consulting In Austria 12

EY (Ernst & Young) is a multinational professional services firm that provides tax, assurance, advisory, and transaction advisory services. 

In Austria, EY offers a broad spectrum of tax consulting services, including corporate tax planning, transfer pricing, and tax controversy assistance.

Contact Information

Their services cover the following areas:

  • Tax planning
  • Tax function operations
  • Tax policy and controversy
  • Global trade
  • Global tax reform
  • Tax compliance
  • Transaction tax
  • Tax services: Designed for private

Get Started With EY Austria 🔥

PwC Austria

Tax Consulting In Austria 13

PricewaterhouseCoopers (PwC) is a global network of firms delivering world-class assurance, tax, and consulting services. 

In Austria, PwC offers a range of tax consulting and advisory services, including international tax planning, M&A tax, and tax accounting.

Contact Information

Their services cover the following areas: 

  • Accounting and Tax Compliance
  • Corporate Tax
  • Financial Services
  • Indirect Tax
  • Mergers and Acquisitions
  • People and Organisation
  • Private Wealth
  • Specials (research premium; tax valuations; public sector corporations; non-profit organisations; expert opinion reports)
  • Tax Controversy
  • Tax Reporting and Strategy, Tax Technology
  • Transfer Pricing
  • Legal Services

Get Started With PwC Austria 🔥

Grant Thornton Austria

Tax Consulting In Austria 14

Grant Thornton is a leading business adviser that helps dynamic organizations unlock their potential for growth. 

In Austria, Grant Thornton provides tax consulting services, including corporate tax planning, VAT advisory, and tax compliance support.

Contact Information

Their services cover the following areas:

  • Corporate Tax
  • Restructuring, Mergers & Acquisition
  • International Tax
  • Transfer pricing
  • Indirect Tax & Customs
  • Private Wealth
  • Real Estate Tax
  • Global Mobility Services
  • Advisor for Advisor

Get Started With Grant Thornton Austria 🔥

Conclusion

As we put the finishing touches on our expedition through Austria’s tax terrain, remember that the right consultation doesn’t just save you from pitfalls—it transforms taxes from daunting obstacles into strategic advantages.

Armed with expert insights and guidance, you’re now ready to tackle Austria’s fiscal challenges head-on, optimizing your financial outcomes while staying squarely within the bounds of the law. Here’s to navigating the fiscal landscape with confidence and acumen!

Consult Confidently!

But wait! There’s lot more that you might be interested in following: