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Product Updates 418, 417, and 416: Changes to 2019 Austria Kammerumlage (Austrian legislation)

In Austria, the Chamber assessment 1 (KU1) is used to finance the Economic Chamber (WKO) and in principle, must be paid by all members of the WKO. It is however exempted for members with the taxable income not exceeding EUR 150,000. 

In general, the assessment rate will now be reduced from the current 0.3%, to a base of EUR 3 million (lower threshold) to 0.29%. Hence, the Chamber Levy (Kammerumlage) report has been enhanced to include the calculations for the investment in fixed asset, thresholds for the VAT amounts, and also levy rates.

The enhancements are as follows:

Calculation section

A new section, namely the Calculation section, has been added in the Chamber levy overview screen (accessible via Finance ➔ VAT/Statistics ➔ Chamber levy).

The information that can be defined under the Calculation section is as follows:

Investment in fixed asset

The amount for the investment in the fixed asset can be defined at the Investment in the fixed asset field. The amount that is defined at this field will be deducted from the basis of the total tax amount. By default, the value “0” is displayed at this field.

Thresholds for VAT amounts and levy rates

The thresholds for the VAT amounts can be defined in the Threshold amount column, specifically at the Up to and Amount < fields. Whereas, the levy rates can be defined in the Levy column.

By default, the following values will be displayed at the fields for the two columns:

Report

Once the calculation has been defined in the screen, the amounts will be reflected in the generated report as follows: