Austria (AT)

Jurisdiction Overview

273 *Are annual accounts submitted to a public authority? Yes
 Data Date: 2018


According to the Global Forum: "Annual accounts has to be filed with the annual corporate and partnership income tax returns" (GF 2018: 58). The Global Forum adds: "In practice, the tax authorities have sufficiently wide powers to ensure that companies and partnerships (including those foreign with a sufficient nexus with Austria) keep to the obligations to maintain and produce accounting records, through their tax filing obligations and tax audit." (Ibid.: 57). Moreover, regarding sanctions for not filling accounts under the Commercial Law, the Global Forum adds: "For companies and partnerships who repeatedly did not file their accounts, the violation of the disclosure obligations can in addition to the initiation of the compulsory penalty proceedings, lead to the deletion from the Firmenbuch, since failure to present the financial statements of two consecutive financial years implies the (refutable) presumption of lack of funds (Sect. 40 Firmenbuch Act, FBG)" (Ibid.: 57).


GF 2018: 57