On Jul. 31, AUT GVT issued ordinance on liability of capital gains tax.
AUT GVT issued an Ordinance on the issuance of tax certificates for income from capital assets by persons liable to deduct capital gains tax (tax reporting ordinance).
Requirements
The person obliged to withhold tax under section 95.2 of the Income tax act 1988 must, at the recipient's request, issue one or more tax certificates (tax reports) in accordance with section 96.5 of the Income tax act 1988 for completed calendar years.
Does not apply to debtors of income under section 27.2 no. 1 of Income tax act 1988.
Income must be included in the tax reporting by the custodian or disbursing agencies.
A tax report pursuant to this Ordinance is only to be issued for natural persons who are fully liable to tax under section 1.2 of the Income tax act 1988.
Tax report must be provided by Mar. 31 of the following year; at the request of the taxpayer, it must be issued for the past five calendar years.
Subsequent corrections must be noted on the reports for following 3 calendar years.
Effectiveness
Ordinance enters into force on Jan. 1, 2025 and shall apply for the first time to tax reports to be prepared for the calendar year 2025.
