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Tuesday | August 11 | 2020

Austria cut taxes to 5% in several sectors

Gastronomy, hotel industry, art & culture and media companies will benefit from VAT reduction, writes Heute.

Thus, the tax on food will be reduced from 10 to 5 percent, while the tax on drinks will be reduced from 20 to 5 percent.

It also applies to sausage stalls and catering. Contrary to initial plans, it also includes butchers, bakers and confectioners who sell food and beverages.

Until now, a tax rate of 13 percent has applied to art and culture

Over the next six months, sales of art, theatre, opera or concert tickets, as well as tickets to museums, zoos, nature parks and cinemas, will be taxed at just 5 percent.

Circuses and showmen will also benefit from the reduced tax rate for six months.

Money for newspapers

5 percent tax applies to books (including e-books), but also to newspapers and magazines.

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