At the end of February, the Austrian government launched a new set of measures meant to support local companies which will strengthen the economy and the business environment. Among the measures presented are a research premium and an employment bonus for Austrian companies. If you want to open a company in this country, our company registration agents in Austria can assist you.
Companies in Austria will be assisted by the government through a new premium for research activities under the Research Location Austria Program. The scheme which was launched a while back has had positive effects on the economy, which is why starting 2018, the new premium will be increased from 12% to 14% with the purpose of promoting innovation and research activities among Austrian companies. The government also hopes to attract qualified personnel who will work in these companies.
These companies will also benefit from 1 million euros in funds created as an employment bonus. The funding will aim to assist companies in reducing the auxiliary salary costs for those creating new jobs. For every new job created, an Austrian company will benefit from a 50% reimbursement of the additional salary costs for the following 3 years. The program is available for employees paying the municipal tax in Austria. This program will be launched this July.
Another program which will be launched this year targets companies with more than 250 employees which will benefit from an accelerated tax depreciation to be granted for investments. Austrian companies will benefit from a 30% tax deduction for investments in material assets. For companies with more than 250 workers the program will be developed until the end of the year, while for small and medium-sized enterprises (with less than 250 employees), the program will be unfolding in 2017 and 2018.
Also, by the end of 2020, Austria is planning on having a 5G broadband internet connection under the Digital Roadmap Program.
For full information on the schemes dedicated to helping companies, please contact our company formation consultants in Austria. We can also help foreign investors interested in opening a company in Austria.